Quantbot Technologies LP Raises Stock Holdings in Comerica Incorporated (NYSE:CMA)

Quantbot Technologies LP raised its position in shares of Comerica Incorporated (NYSE:CMA) by 1,213.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,984 shares of the financial services provider’s stock after buying an additional 129,323 shares during the quarter. Comerica comprises 0.4% of Quantbot Technologies LP’s portfolio, making the stock its 26th biggest holding. Quantbot Technologies LP owned approximately 0.11% of Comerica worth $7,698,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CMA. Norges Bank purchased a new position in Comerica during the 4th quarter worth $80,691,000. Azora Capital LP acquired a new position in Comerica in the 4th quarter worth about $63,548,000. Vaughan Nelson Investment Management L.P. increased its stake in Comerica by 129.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after buying an additional 1,088,330 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Comerica by 60.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock valued at $145,444,000 after purchasing an additional 984,391 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Comerica by 51.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock valued at $143,109,000 after purchasing an additional 870,812 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMA has been the topic of a number of analyst reports. UBS Group cut their price target on Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Piper Sandler boosted their price target on Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, April 26th. The Goldman Sachs Group decreased their price target on shares of Comerica from $69.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Royal Bank of Canada reduced their price target on shares of Comerica from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Finally, Robert W. Baird dropped their price target on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.96.

Insider Buying and Selling

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Comerica Trading Down 0.4 %

Comerica stock traded down $0.22 during mid-day trading on Friday, hitting $55.55. The company’s stock had a trading volume of 2,152,164 shares, compared to its average volume of 2,227,119. Comerica Incorporated has a one year low of $37.40 and a one year high of $57.39. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day moving average of $50.57 and a 200-day moving average of $51.79. The stock has a market cap of $7.37 billion, a PE ratio of 11.08 and a beta of 1.25.

Comerica (NYSE:CMA) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. During the same period last year, the business posted $2.39 earnings per share. On average, research analysts anticipate that Comerica Incorporated will post 5.01 EPS for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.11%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.