Quantbot Technologies LP Acquires Shares of 104,089 Comerica Incorporated (NYSE:CMA)

Quantbot Technologies LP purchased a new position in Comerica Incorporated (NYSE:CMA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 104,089 shares of the financial services provider's stock, valued at approximately $6,438,000. Quantbot Technologies LP owned about 0.08% of Comerica at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Atria Investments Inc acquired a new position in shares of Comerica during the third quarter valued at about $219,000. Crossmark Global Holdings Inc. increased its stake in Comerica by 50.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,366 shares of the financial services provider's stock valued at $561,000 after purchasing an additional 3,146 shares in the last quarter. Victory Capital Management Inc. increased its stake in Comerica by 38.2% during the 3rd quarter. Victory Capital Management Inc. now owns 43,328 shares of the financial services provider's stock valued at $2,596,000 after purchasing an additional 11,981 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Comerica by 158.2% in the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider's stock worth $1,218,000 after buying an additional 12,454 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Comerica by 17.3% during the third quarter. KBC Group NV now owns 3,955 shares of the financial services provider's stock worth $237,000 after buying an additional 582 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMA. JPMorgan Chase & Co. reduced their target price on Comerica from $73.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. DA Davidson decreased their target price on Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. UBS Group began coverage on Comerica in a research report on Tuesday, December 17th. They issued a "sell" rating and a $64.00 target price on the stock. Argus raised shares of Comerica to a "hold" rating in a research report on Friday, January 31st. Finally, Truist Financial raised shares of Comerica to a "hold" rating in a report on Monday, January 6th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $68.29.

Comerica Price Performance

Comerica stock traded up $0.73 during trading on Wednesday, reaching $59.06. The company had a trading volume of 1,517,720 shares, compared to its average volume of 2,041,123. The firm has a market capitalization of $7.76 billion, a PE ratio of 11.77 and a beta of 1.23. The firm's 50-day simple moving average is $63.62 and its 200 day simple moving average is $63.42. 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the company earned $1.46 EPS. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 annualized dividend and a yield of 4.81%. Comerica's dividend payout ratio (DPR) is currently 56.57%.

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.