MQS Management LLC Invests $325,000 in Comerica Incorporated $CMA

MQS Management LLC bought a new position in Comerica Incorporated (NYSE:CMA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,447 shares of the financial services provider’s stock, valued at approximately $325,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. M&T Bank Corp lifted its stake in shares of Comerica by 11.2% in the first quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider’s stock worth $780,000 after buying an additional 1,326 shares in the last quarter. Baron Wealth Management LLC bought a new position in shares of Comerica in the second quarter worth approximately $240,000. Rhino Investment Partners Inc lifted its stake in shares of Comerica by 35.4% in the first quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock worth $23,191,000 after buying an additional 102,647 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Comerica by 3.8% in the first quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider’s stock worth $666,000 after buying an additional 414 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its stake in shares of Comerica by 25.8% in the first quarter. Wolverine Asset Management LLC now owns 41,997 shares of the financial services provider’s stock worth $2,480,000 after buying an additional 8,604 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 1.4%

Shares of CMA stock opened at $78.33 on Monday. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $83.22. The stock has a market cap of $10.07 billion, a P/E ratio of 14.95 and a beta of 0.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a 50 day simple moving average of $71.86 and a two-hundred day simple moving average of $63.78.

Comerica (NYSE:CMA) last announced its earnings results on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The business had revenue of $824.00 million during the quarter. On average, research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, September 15th. Comerica’s dividend payout ratio is currently 54.20%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. DA Davidson set a $60.00 target price on shares of Comerica and gave the stock a “neutral” rating in a research note on Monday, July 21st. Morgan Stanley upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective on the stock in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price objective (up previously from $73.00) on shares of Comerica in a research report on Friday, October 10th. Citigroup increased their price objective on shares of Comerica from $54.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Finally, Piper Sandler set a $82.00 price objective on shares of Comerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Three research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Comerica currently has a consensus rating of “Hold” and an average target price of $73.65.

Insider Buying and Selling

In other news, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the sale, the insider directly owned 33,471 shares of the company’s stock, valued at $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the sale, the executive vice president directly owned 9,424 shares of the company’s stock, valued at approximately $631,690.72. This trade represents a 18.22% 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 corporate insiders.

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.