Eisler Capital Management Ltd. Makes New $13.44 Million Investment in Comerica Incorporated $CMA

Key Points

• Eisler Capital Management Ltd. acquired a new stake in Comerica Incorporated worth approximately $13.44 million, purchasing 227,500 shares, which is about 0.17% of the company.
• Comerica announced a quarterly dividend of $0.71 per share, delivering an annualized dividend yield of 4.1%.
• The company reported $1.42 EPS for the last quarter, exceeding analysts' estimates, with expectations of 5.28 EPS for the current year.

Eisler Capital Management Ltd. bought a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 227,500 shares of the financial services provider's stock, valued at approximately $13,438,000. Eisler Capital Management Ltd. owned about 0.17% of Comerica as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of CMA. Hsbc Holdings PLC increased its position in shares of Comerica by 412.9% in the 4th quarter. Hsbc Holdings PLC now owns 31,240 shares of the financial services provider's stock worth $1,930,000 after purchasing an additional 25,149 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Comerica by 8.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 86,047 shares of the financial services provider's stock worth $5,323,000 after purchasing an additional 6,746 shares during the last quarter. MGO One Seven LLC bought a new stake in shares of Comerica in the 4th quarter worth about $200,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Comerica in the 4th quarter worth about $990,000. Finally, Quarry LP increased its position in shares of Comerica by 152.0% in the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after purchasing an additional 523 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Trading Up 1.5%

Comerica stock opened at $69.73 on Wednesday. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $73.45. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 12.39 and a beta of 0.94. The firm has a 50-day moving average price of $64.50 and a two-hundred day moving average price of $60.15. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The company had revenue of $849.00 million for the quarter, compared to the consensus estimate of $844.39 million. During the same period in the previous year, the firm earned $1.49 EPS. Sell-side analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, September 15th. Comerica's payout ratio is 54.41%.

Insider Transactions at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 2,100 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $140,763.00. Following the sale, the executive vice president directly owned 9,424 shares in the company, valued at approximately $631,690.72. The trade was a 18.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Mcgregor Carr sold 4,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the sale, the insider owned 33,471 shares in the company, valued at $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CMA. Truist Financial boosted their target price on shares of Comerica from $61.00 to $68.00 and gave the stock a "hold" rating in a research report on Thursday, July 24th. Jefferies Financial Group raised shares of Comerica from an "underperform" rating to a "hold" rating and lifted their price target for the company from $50.00 to $70.00 in a report on Wednesday, August 6th. Piper Sandler lifted their price target on shares of Comerica from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Comerica from $69.00 to $73.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $64.40.

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.

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