Quantbot Technologies LP Sells 63,543 Shares of Comerica Incorporated $CMA

Key Points

• Quantbot Technologies LP has reduced its holdings in Comerica by 61.0%, selling 63,543 shares in the first quarter and retaining 40,546 shares valued at approximately $2,395,000.
• Comerica recently announced a quarterly dividend of $0.71 per share, yielding about 4.2%, with an ex-dividend date of September 15.
• Despite a recent decline of 0.1% in its stock price, Comerica reported earnings per share of $1.42 for the last quarter, beating analyst estimates of $1.23.

Quantbot Technologies LP lowered its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 61.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,546 shares of the financial services provider's stock after selling 63,543 shares during the quarter. Quantbot Technologies LP's holdings in Comerica were worth $2,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in shares of Comerica by 0.3% during the 1st quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider's stock worth $4,985,000 after buying an additional 221 shares in the last quarter. Xponance Inc. lifted its position in shares of Comerica by 1.6% during the 1st quarter. Xponance Inc. now owns 15,346 shares of the financial services provider's stock worth $906,000 after buying an additional 238 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Comerica by 5.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,654 shares of the financial services provider's stock worth $275,000 after buying an additional 257 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Comerica by 5.4% during the 1st quarter. Meeder Advisory Services Inc. now owns 5,116 shares of the financial services provider's stock worth $302,000 after buying an additional 263 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Comerica by 19.4% in the 1st quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock worth $105,000 after purchasing an additional 289 shares during the period. Institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMA. Raymond James Financial reaffirmed a "market perform" rating on shares of Comerica in a report on Tuesday, July 8th. Stephens reaffirmed an "equal weight" rating on shares of Comerica in a report on Monday, July 21st. Citigroup lifted their price target on shares of Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. UBS Group set a $64.00 price target on shares of Comerica and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Truist Financial lifted their price target on shares of Comerica from $61.00 to $68.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Comerica currently has an average rating of "Hold" and an average target price of $64.40.

Insider Buying and Selling

In other news, EVP Allysun C. Fleming sold 2,100 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president owned 9,424 shares of the company's stock, valued at approximately $631,690.72. This represents a 18.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Mcgregor Carr sold 4,000 shares of the company's stock in a transaction 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 transaction, the insider directly owned 33,471 shares in the company, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Comerica Stock Down 0.1%

Comerica stock opened at $67.5440 on Thursday. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $73.45. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 12.19 and a beta of 0.94. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The firm has a 50 day simple moving average of $63.45 and a 200 day simple moving average of $60.17.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, beating 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 business had revenue of $849.00 million during the quarter, compared to analyst estimates of $844.39 million. During the same period in the previous year, the business earned $1.49 EPS. On average, analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, September 15th. Comerica's payout ratio is currently 54.41%.

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.

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