AlphaQuest LLC Increases Stock Holdings in Comerica Incorporated (NYSE:CMA)

AlphaQuest LLC boosted its stake in Comerica Incorporated (NYSE:CMA) by 1,262.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,250 shares of the financial services provider’s stock after acquiring an additional 46,562 shares during the period. Comerica accounts for approximately 0.4% of AlphaQuest LLC’s holdings, making the stock its 12th biggest holding. AlphaQuest LLC’s holdings in Comerica were worth $3,108,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. US Bancorp DE increased its position in shares of Comerica by 29.1% during the third quarter. US Bancorp DE now owns 11,596 shares of the financial services provider’s stock valued at $695,000 after buying an additional 2,615 shares during the period. Farther Finance Advisors LLC boosted its position in Comerica by 43.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,120 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 1,251 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Comerica by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 48,152 shares of the financial services provider’s stock worth $2,986,000 after acquiring an additional 525 shares during the period. Atria Investments Inc bought a new position in shares of Comerica in the 3rd quarter worth approximately $219,000. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Comerica by 50.6% in 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 during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Price Performance

Shares of CMA stock opened at $58.34 on Friday. The company has a market capitalization of $7.66 billion, a PE ratio of 11.62 and a beta of 1.23. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50-day moving average is $64.27 and its two-hundred day moving average is $63.31. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 firm earned $1.46 EPS. Analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 4.87%. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CMA shares. Argus raised Comerica to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley decreased their price target on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $51.00 to $73.00 in a report on Friday, November 15th. Finally, Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.67.

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.