New England Research & Management Inc. Buys New Stake in Comerica Incorporated (NYSE:CMA)

New England Research & Management Inc. bought a new stake in Comerica Incorporated (NYSE:CMA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,675 shares of the financial services provider's stock, valued at approximately $784,000.

A number of other large investors have also recently made changes to their positions in the company. Trust Co. of Vermont lifted its stake in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after buying an additional 321 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Comerica during the 3rd quarter worth $36,000. MCF Advisors LLC boosted its stake in Comerica by 56.3% during the 4th 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 in the third quarter valued at $42,000. Finally, UMB Bank n.a. raised its holdings in shares of Comerica by 74.2% in the fourth quarter. UMB Bank n.a. now owns 1,488 shares of the financial services provider's stock valued at $92,000 after buying an additional 634 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the transaction, the executive vice president now owns 8,730 shares of the company's stock, valued at $600,885.90. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on Comerica from $76.00 to $71.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Compass Point upped their price target on Comerica from $64.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Evercore ISI lifted their price objective on shares of Comerica from $64.00 to $69.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of Comerica from $73.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler raised their target price on shares of Comerica from $64.00 to $72.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $68.33.

Comerica Price Performance

CMA stock traded up $3.04 on Thursday, reaching $68.33. The company had a trading volume of 2,204,376 shares, compared to its average volume of 2,015,004. The company's fifty day moving average is $65.32 and its 200 day moving average is $61.14. The company has a market cap of $8.99 billion, a P/E ratio of 13.61 and a beta of 1.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica Incorporated has a 1 year low of $45.32 and a 1 year 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 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 period last year, the business posted $1.46 EPS. On average, research analysts forecast that Comerica Incorporated will post 5.36 earnings per share for the current year.

Comerica declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 5th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, December 13th. Comerica's dividend payout ratio is currently 56.57%.

Comerica 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.