Azora Capital LP Has $123.11 Million Stock Holdings in Comerica Incorporated $CMA

Azora Capital LP raised its position in shares of Comerica Incorporated (NYSE:CMA) by 8.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,063,920 shares of the financial services provider’s stock after purchasing an additional 164,722 shares during the quarter. Comerica accounts for about 5.6% of Azora Capital LP’s investment portfolio, making the stock its 3rd largest position. Azora Capital LP owned approximately 1.61% of Comerica worth $123,113,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMA. Gen Wealth Partners Inc purchased a new stake in Comerica in the 1st quarter worth $34,000. FNY Investment Advisers LLC purchased a new position in Comerica during the second quarter valued at $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 purchasing an additional 176 shares during the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Comerica in the second quarter worth about $48,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Comerica in the 1st quarter worth approximately $55,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMA has been the subject of several research reports. Cowen started coverage on shares of Comerica in a research report on Wednesday, September 24th. They set a “hold” rating for the company. Royal Bank Of Canada raised their target price on shares of Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Jefferies Financial Group upped their price target on shares of Comerica from $75.00 to $85.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Morgan Stanley raised Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price on the stock in a research note on Tuesday, October 7th. Finally, TD Cowen initiated coverage on Comerica in a research report on Thursday, September 25th. They issued a “hold” rating and a $75.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.26.

Comerica Stock Performance

CMA stock opened at $83.81 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $10.71 billion, a P/E ratio of 15.99 and a beta of 1.07. The business has a 50-day moving average price of $78.17 and a 200 day moving average price of $69.32. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $85.32.

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

Comerica Dividend Announcement

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

Comerica Company 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.