Aigen Investment Management LP Purchases Shares of 9,730 Comerica Incorporated (NYSE:CMA)

Aigen Investment Management LP acquired a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,730 shares of the financial services provider's stock, valued at approximately $602,000.

Several other hedge funds also recently bought and sold shares of the stock. Wedmont Private Capital boosted its position in shares of Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider's stock worth $474,000 after purchasing an additional 186 shares during the period. Blue Trust Inc. raised its holdings in shares of Comerica by 5.2% in the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock valued at $242,000 after buying an additional 200 shares during the period. V Square Quantitative Management LLC lifted its stake in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after acquiring an additional 221 shares in the last quarter. US Bancorp DE boosted its stake in shares of Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock valued at $731,000 after purchasing an additional 227 shares during the period. Finally, MCF Advisors LLC increased its position in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after acquiring an additional 228 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank of Canada cut their price target on Comerica from $78.00 to $76.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. Robert W. Baird boosted their target price on Comerica from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Truist Financial upgraded shares of Comerica to a "hold" rating in a research note on Monday, January 6th. Compass Point lifted their price target on shares of Comerica from $64.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group downgraded shares of Comerica from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $85.00 to $71.00 in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has a consensus rating of "Hold" and an average target price of $68.67.

Comerica Price Performance

NYSE:CMA traded down $2.06 during mid-day trading on Monday, hitting $56.24. 2,426,252 shares of the company's stock traded hands, compared to its average volume of 2,128,348. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a market cap of $7.39 billion, a PE ratio of 11.20 and a beta of 1.23. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm's 50 day simple moving average is $64.27 and its 200 day simple moving average is $63.37.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the company earned $1.46 EPS. Sell-side analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Friday, March 14th. Comerica's dividend payout ratio is presently 56.57%.

Comerica Company Profile

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.