Teza Capital Management LLC Acquires New Shares in Comerica Incorporated (NYSE:CMA)

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

Other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont increased its position in shares of Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after purchasing an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Comerica during the 4th quarter worth approximately $31,000. MCF Advisors LLC increased its position in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after purchasing an additional 228 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after purchasing an additional 221 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after acquiring an additional 523 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Price Performance

Shares of CMA traded down $0.14 during trading hours on Friday, hitting $56.22. 1,514,231 shares of the company were exchanged, compared to its average volume of 2,192,477. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 11.20 and a beta of 0.92. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm's fifty day moving average is $55.49 and its 200 day moving average is $61.77.

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

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio (DPR) is currently 53.69%.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of recent analyst reports. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $63.00 to $55.00 in a report on Monday, April 7th. UBS Group raised Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price on the stock in a report on Thursday, April 10th. Jefferies Financial Group initiated coverage on Comerica in a report on Wednesday. They set an "underperform" rating and a $47.00 target price on the stock. Wells Fargo & Company decreased their target price on Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James decreased their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Comerica presently has an average rating of "Hold" and an average price target of $62.37.

Comerica 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.