525,811 Shares in Comerica Incorporated $CMA Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership bought a new stake in shares of Comerica Incorporated (NYSE:CMA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 525,811 shares of the financial services provider’s stock, valued at approximately $31,365,000. Arrowstreet Capital Limited Partnership owned 0.41% of Comerica at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CMA. Gen Wealth Partners Inc bought a new stake in Comerica in the first quarter worth $34,000. FNY Investment Advisers LLC purchased a new position in shares of Comerica during the 2nd quarter worth approximately $35,000. Geneos Wealth Management Inc. boosted its holdings in shares of Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after buying an additional 176 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in Comerica in the second quarter worth about $48,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Comerica during the 1st quarter valued at approximately $55,000. Institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

Comerica stock opened at $84.19 on Friday. The firm has a 50-day moving average of $77.56 and a two-hundred day moving average of $68.84. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 16.07 and a beta of 1.07. Comerica Incorporated has a 1 year low of $48.12 and a 1 year high of $85.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96.

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

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Monday, December 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.4%. Comerica’s dividend payout ratio (DPR) is currently 54.20%.

Analyst Ratings Changes

A number of research firms have recently commented on CMA. Royal Bank Of Canada increased their price target on shares of Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Cantor Fitzgerald initiated coverage on shares of Comerica in a research note on Wednesday, September 10th. They set a “neutral” rating and a $72.00 price target on the stock. TD Cowen started coverage on shares of Comerica in a report on Thursday, September 25th. They set a “hold” rating and a $75.00 price target on the stock. Piper Sandler set a $82.00 target price on Comerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings lowered Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Three investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.55.

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.