Quantbot Technologies LP Has $718,000 Stake in Comerica Incorporated $CMA

Quantbot Technologies LP cut its stake in shares of Comerica Incorporated (NYSE:CMA) by 70.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,037 shares of the financial services provider’s stock after selling 28,509 shares during the quarter. Quantbot Technologies LP’s holdings in Comerica were worth $718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CMA. Baron Wealth Management LLC acquired a new stake in Comerica during the 2nd quarter worth about $240,000. Rhino Investment Partners Inc boosted its position in shares of Comerica by 35.4% during the 1st quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock valued at $23,191,000 after purchasing an additional 102,647 shares in the last quarter. HighTower Advisors LLC grew its stake in Comerica by 13.1% during the first quarter. HighTower Advisors LLC now owns 48,407 shares of the financial services provider’s stock worth $2,859,000 after purchasing an additional 5,596 shares during the period. Goldman Sachs Group Inc. increased its holdings in Comerica by 9.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock worth $137,107,000 after purchasing an additional 203,333 shares in the last quarter. Finally, Applied Finance Capital Management LLC bought a new stake in Comerica in the second quarter worth approximately $207,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Performance

Shares of CMA stock opened at $83.81 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $78.17 and a two-hundred day simple moving average of $69.32. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $85.32. The firm has a market capitalization of $10.71 billion, a PE ratio of 15.99 and a beta of 1.07.

Comerica (NYSE:CMA) last released its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. The firm had revenue of $824.00 million for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. Analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, December 15th. Comerica’s payout ratio is currently 54.20%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMA. Wells Fargo & Company increased their price target on Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Cowen assumed coverage on shares of Comerica in a research note on Wednesday, September 24th. They set a “hold” rating on the stock. Royal Bank Of Canada raised their price target on shares of Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Piper Sandler set a $82.00 price target on shares of Comerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI set a $88.00 price objective on shares of Comerica and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus price target of $74.26.

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.