Xponance Inc. Grows Position in Comerica Incorporated (NYSE:CMA)

Xponance Inc. grew its position in Comerica Incorporated (NYSE:CMA) by 200.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,108 shares of the financial services provider’s stock after acquiring an additional 10,079 shares during the quarter. Xponance Inc.’s holdings in Comerica were worth $934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Trust Co. of Vermont grew its holdings in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new position in Comerica during the fourth quarter valued at $31,000. MCF Advisors LLC grew its stake in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after buying an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica in the 3rd quarter worth about $42,000. Finally, V Square Quantitative Management LLC raised its position in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after buying an additional 221 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Trading Down 0.1 %

NYSE CMA opened at $58.99 on Monday. The company’s 50-day simple moving average is $63.47 and its two-hundred day simple moving average is $63.49. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 11.75 and a beta of 1.23. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the prior year, the company posted $1.46 earnings per share. Equities 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 Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s dividend payout ratio (DPR) is currently 56.57%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler boosted their price objective on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial raised Comerica to a “hold” rating in a research report on Monday, January 6th. Royal Bank of Canada lowered their price target on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley cut their price objective on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Finally, UBS Group began coverage on shares of Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 target price on the stock. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.29.

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.