VIRGINIA RETIREMENT SYSTEMS ET Al Invests $610,000 in Comerica Incorporated $CMA

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,900 shares of the financial services provider’s stock, valued at approximately $610,000.

A number of other institutional investors also recently added to or reduced their stakes in CMA. Norges Bank acquired a new position in Comerica during the 2nd quarter worth approximately $97,138,000. Primecap Management Co. CA grew its stake in shares of Comerica by 55.3% during the second quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock worth $154,720,000 after purchasing an additional 923,690 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Comerica in the second quarter valued at $31,365,000. Qube Research & Technologies Ltd acquired a new stake in Comerica in the second quarter valued at $12,477,000. Finally, Marshall Wace LLP raised its stake in Comerica by 472.6% in the second quarter. Marshall Wace LLP now owns 252,505 shares of the financial services provider’s stock valued at $15,062,000 after buying an additional 208,409 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

CMA has been the subject of several analyst reports. Weiss Ratings cut Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $93.00 price target (up from $73.00) on shares of Comerica in a report on Friday, October 10th. Evercore ISI set a $88.00 price target on shares of Comerica and gave the company an “in-line” rating in a research note on Thursday, October 30th. Cantor Fitzgerald assumed coverage on shares of Comerica in a report on Wednesday, September 10th. They set a “neutral” rating and a $72.00 price objective on the stock. Finally, Cowen initiated coverage on shares of Comerica in a report on Wednesday, September 24th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $75.68.

Comerica Price Performance

CMA stock opened at $88.64 on Monday. 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 market capitalization of $11.33 billion, a P/E ratio of 16.92 and a beta of 1.03. The business has a 50 day simple moving average of $82.41 and a 200-day simple moving average of $73.27. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $90.44.

Comerica (NYSE:CMA) last released its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. The firm 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 analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Monday, December 15th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, December 15th. Comerica’s dividend payout ratio is presently 54.20%.

Comerica Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.