Teza Capital Management LLC Takes Position in Comerica Incorporated (NYSE:CMA)

Teza Capital Management LLC acquired a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,106 shares of the financial services provider's stock, valued at approximately $1,367,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMA. Franklin Resources Inc. grew its holdings in shares of Comerica by 9.3% in the third quarter. Franklin Resources Inc. now owns 14,690 shares of the financial services provider's stock valued at $901,000 after purchasing an additional 1,255 shares in the last quarter. Trust Co. of Vermont grew its holdings in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. HB Wealth Management LLC boosted its stake in Comerica by 6.8% during the fourth quarter. HB Wealth Management LLC now owns 6,750 shares of the financial services provider's stock worth $417,000 after buying an additional 430 shares during the period. UMB Bank n.a. boosted its stake in Comerica by 74.2% during the fourth quarter. UMB Bank n.a. now owns 1,488 shares of the financial services provider's stock worth $92,000 after buying an additional 634 shares during the period. Finally, Atomi Financial Group Inc. boosted its stake in Comerica by 9.7% during the fourth quarter. Atomi Financial Group Inc. now owns 4,000 shares of the financial services provider's stock worth $247,000 after buying an additional 354 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CMA shares. JPMorgan Chase & Co. lowered shares of Comerica from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $64.00 to $52.00 in a research note on Tuesday, April 22nd. Truist Financial dropped their price objective on shares of Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Keefe, Bruyette & Woods lowered their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Evercore ISI lowered shares of Comerica from an "in-line" rating to an "underperform" rating and lowered their target price for the company from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Comerica currently has an average rating of "Hold" and an average target price of $63.22.

Comerica Stock Performance

Shares of Comerica stock opened at $58.81 on Monday. The company has a market capitalization of $7.73 billion, a PE ratio of 11.71 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50-day simple moving average of $55.56 and a two-hundred day simple moving average of $62.02. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the company posted $1.29 earnings per share. Research analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.83%. Comerica's dividend payout ratio is presently 53.69%.

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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