Amalgamated Bank Has $3.87 Million Stake in Comerica Incorporated (NYSE:CMA)

Amalgamated Bank grew its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 51.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,638 shares of the financial services provider's stock after purchasing an additional 21,254 shares during the period. Amalgamated Bank's holdings in Comerica were worth $3,874,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Trust Co. of Vermont lifted its position in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after buying an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in Comerica in the 4th quarter worth approximately $31,000. MCF Advisors LLC boosted its position in 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 purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Comerica during the third quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC boosted its holdings in shares of 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 buying an additional 221 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Down 3.5 %

Shares of CMA stock traded down $2.17 on Tuesday, hitting $60.46. 2,127,719 shares of the stock were exchanged, compared to its average volume of 2,045,650. The firm has a market capitalization of $7.94 billion, a P/E ratio of 12.05 and a beta of 1.25. The business has a 50-day moving average of $64.53 and a 200 day moving average of $63.28. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45.

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

Comerica announced that its board has initiated a stock repurchase program on Tuesday, November 5th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.70%. Comerica's dividend payout ratio is 56.57%.

Analyst Ratings Changes

Several brokerages recently commented on CMA. Compass Point lifted their target price on shares of Comerica from $64.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. UBS Group began coverage on Comerica in a research report on Tuesday, December 17th. They set a "sell" rating and a $64.00 price objective for the company. Truist Financial raised Comerica to a "hold" rating in a report on Monday, January 6th. Royal Bank of Canada reduced their price objective on Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Comerica from $73.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Comerica has an average rating of "Hold" and an average price target of $68.57.

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.