New Age Alpha Advisors LLC Takes Position in Comerica Incorporated (NYSE:CMA)

New Age Alpha Advisors LLC bought a new stake in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 19,368 shares of the financial services provider’s stock, valued at approximately $1,198,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMA. Trust Co. of Vermont lifted its position in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in Comerica in the fourth quarter worth about $31,000. MCF Advisors LLC increased its holdings 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 valued at $39,000 after acquiring an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Comerica during the third quarter valued at $42,000. Finally, V Square Quantitative Management LLC raised its stake in Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 221 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Performance

CMA opened at $58.73 on Monday. The stock has a 50-day moving average of $63.07 and a 200-day moving average of $63.63. 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 Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a market cap of $7.71 billion, a PE ratio of 11.70 and a beta of 1.23.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate 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. As a group, equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 4.84%. The ex-dividend date is Friday, March 14th. Comerica’s payout ratio is currently 56.57%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CMA. Piper Sandler raised their target price on Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lowered Comerica from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reduced their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. UBS Group began coverage on Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price target on the stock. Finally, Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Comerica presently has a consensus rating of “Hold” and a consensus target price of $68.00.

About Comerica

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.