Comerica Incorporated (NYSE:CMA) Shares Bought by Algert Global LLC

by · The Markets Daily

Algert Global LLC grew its position in Comerica Incorporated (NYSE:CMA – Free Report) by 54.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,258 shares of the financial services provider’s stock after buying an additional 42,952 shares during the quarter. Algert Global LLC’s holdings in Comerica were worth $7,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Trust Co. of Vermont grew its position in Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Comerica in the fourth quarter valued at approximately $31,000. MCF Advisors LLC increased 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 buying an additional 228 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Comerica during the 3rd quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC boosted its position in Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after buying an additional 221 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 3.6 %

Shares of NYSE:CMA opened at $56.44 on Monday. 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 stock has a market cap of $7.41 billion, a P/E ratio of 11.24 and a beta of 0.96. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The firm has a fifty day moving average price of $56.24 and a 200 day moving average price of $62.44.

Comerica (NYSE:CMA – Get Free Report) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the company posted $1.29 earnings per share. Sell-side analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Friday, June 13th. Comerica’s dividend payout ratio (DPR) is presently 53.69%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CMA shares. Truist Financial cut their price objective on Comerica from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on Comerica from $77.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Barclays boosted their price objective on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Robert W. Baird reduced their target price on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Finally, Stephens cut shares of Comerica from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Comerica has an average rating of “Hold” and a consensus target price of $62.84.

Read Our Latest Analysis on Comerica

Comerica Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding CMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comerica Incorporated (NYSE:CMA – Free Report).