WINTON GROUP Ltd Purchases Shares of 29,605 Comerica Incorporated (NYSE:CMA)

WINTON GROUP Ltd acquired a new position in shares of Comerica Incorporated (NYSE:CMA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 29,605 shares of the financial services provider’s stock, valued at approximately $1,511,000.

Several other institutional investors have also modified their holdings of CMA. Price T Rowe Associates Inc. MD raised its stake in Comerica by 105.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after acquiring an additional 3,595,036 shares in the last quarter. Norges Bank acquired a new position in Comerica in the fourth quarter valued at $80,691,000. Azora Capital LP purchased a new position in shares of Comerica during the fourth quarter worth about $63,548,000. Goldman Sachs Group Inc. increased its position in shares of Comerica by 51.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after purchasing an additional 870,812 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Comerica by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after purchasing an additional 676,959 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. DA Davidson restated a “neutral” rating and set a $55.00 price target on shares of Comerica in a research note on Tuesday, September 10th. Piper Sandler raised their target price on shares of Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Wells Fargo & Company cut their target price on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a report on Wednesday, June 12th. Morgan Stanley increased their price target on shares of Comerica from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Stephens restated an “overweight” rating and issued a $58.00 price objective on shares of Comerica in a research note on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Comerica currently has an average rating of “Hold” and an average price target of $55.73.

Insider Activity at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Comerica Stock Up 1.4 %

Shares of Comerica stock opened at $57.49 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a 1 year low of $37.40 and a 1 year high of $58.50. The stock has a 50-day moving average price of $54.55 and a 200 day moving average price of $52.34. The company has a market cap of $7.62 billion, a P/E ratio of 11.43 and a beta of 1.23.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.30. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period last year, the company earned $2.01 earnings per share. As a group, analysts expect that Comerica Incorporated will post 5.05 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.94%. Comerica’s dividend payout ratio is 56.46%.

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.