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

Quantbot Technologies LP lowered its position in Comerica Incorporated (NYSE:CMA) by 61.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in Comerica by 0.3% in the first quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider’s stock worth $4,985,000 after acquiring an additional 221 shares in the last quarter. Xponance Inc. grew its position in Comerica by 1.6% in the first quarter. Xponance Inc. now owns 15,346 shares of the financial services provider’s stock worth $906,000 after acquiring an additional 238 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Comerica by 5.8% in the first quarter. Avantax Advisory Services Inc. now owns 4,654 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 257 shares in the last quarter. Meeder Advisory Services Inc. grew its position in Comerica by 5.4% in the first quarter. Meeder Advisory Services Inc. now owns 5,116 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 263 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Comerica by 19.4% in the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 289 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

Shares of NYSE:CMA opened at $67.5440 on Thursday. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 12.19 and a beta of 0.94. The company has a 50-day moving average price of $63.45 and a 200-day moving average price of $60.17. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $73.45.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.23 by $0.19. The firm had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. Comerica had a net margin of 14.92% and a return on equity of 10.92%. During the same period in the prior year, the firm posted $1.49 earnings per share. As a group, equities analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 4.2%. Comerica’s dividend payout ratio (DPR) is 54.41%.

Insider Activity

In other Comerica news, EVP Allysun C. Fleming sold 2,100 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the completion of the sale, the executive vice president directly owned 9,424 shares in the company, valued at $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,251,928.88. This trade represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

CMA has been the subject of several research reports. DA Davidson set a $60.00 target price on shares of Comerica and gave the stock a “neutral” rating in a research report on Monday, July 21st. Piper Sandler upped their target price on shares of Comerica from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods upped their target price on shares of Comerica from $69.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. upped their price target on shares of Comerica from $52.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, July 1st. Finally, Raymond James Financial restated a “market perform” rating on shares of Comerica in a research report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.40.

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.