Virtu Financial LLC Purchases New Position in Comerica Incorporated (NYSE:CMA)

Virtu Financial LLC acquired a new position in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, Holdings Channel reports. The fund acquired 9,914 shares of the financial services provider’s stock, valued at approximately $613,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Comerica in the fourth quarter valued at $6,438,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Comerica by 2.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,045 shares of the financial services provider’s stock valued at $1,796,000 after purchasing an additional 687 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Comerica by 193.9% during the 4th quarter. Teacher Retirement System of Texas now owns 44,918 shares of the financial services provider’s stock valued at $2,778,000 after purchasing an additional 29,633 shares during the last quarter. Xponance Inc. lifted its stake in Comerica by 200.4% in the fourth quarter. Xponance Inc. now owns 15,108 shares of the financial services provider’s stock worth $934,000 after purchasing an additional 10,079 shares during the last quarter. Finally, Primecap Management Co. CA boosted its position in shares of Comerica by 14.3% during the fourth quarter. Primecap Management Co. CA now owns 508,000 shares of the financial services provider’s stock valued at $31,420,000 after buying an additional 63,500 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Stock Performance

CMA stock opened at $60.87 on Wednesday. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 12.13 and a beta of 1.23. 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 firm has a 50-day simple moving average of $63.41 and a two-hundred day simple moving average of $63.57.

Comerica (NYSE:CMA) last posted its earnings results 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 quarter in the previous year, the firm posted $1.46 EPS. On average, equities analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

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 given 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 dividend yield of 4.67%. Comerica’s payout ratio is 56.57%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CMA. Barclays increased their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Compass Point increased their target price on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler boosted their target price on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group downgraded shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Finally, Robert W. Baird boosted their price objective on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Comerica has an average rating of “Hold” and a consensus price target of $68.29.

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.