Catalyst Funds Management Pty Ltd Has $625,000 Stock Position in Comerica Incorporated (NYSE:CMA)

Catalyst Funds Management Pty Ltd increased its stake in shares of Comerica Incorporated (NYSE:CMA) by 741.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,100 shares of the financial services provider’s stock after purchasing an additional 8,900 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Comerica were worth $625,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PL Capital Advisors LLC grew its position in shares of Comerica by 6,085.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock worth $109,981,000 after buying an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Comerica during the fourth quarter valued at approximately $82,419,000. Citigroup Inc. increased its stake in Comerica by 390.6% in the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock valued at $45,628,000 after purchasing an additional 606,375 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Comerica by 31.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider’s stock worth $144,312,000 after purchasing an additional 574,516 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after purchasing an additional 490,468 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

CMA has been the topic of several research analyst reports. Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. UBS Group initiated coverage on Comerica in a report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price objective on the stock. Piper Sandler increased their target price on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point lifted their price target on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered 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. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.29.

Comerica Trading Up 1.2 %

Comerica stock opened at $57.75 on Friday. 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 stock has a 50-day simple moving average of $63.81 and a 200 day simple moving average of $63.35. The stock has a market capitalization of $7.58 billion, a P/E ratio of 11.50 and a beta of 1.23. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45.

Comerica (NYSE:CMA) last posted its 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 return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the business earned $1.46 EPS. Analysts expect 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. Stockholders of record on Friday, March 14th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.92%. 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.