Aster Capital Management DIFC Ltd Buys Shares of 9,493 Comerica Incorporated (NYSE:CMA)

Aster Capital Management DIFC Ltd purchased a new position in Comerica Incorporated (NYSE:CMA) during the fourth quarter, Holdings Channel reports. The fund purchased 9,493 shares of the financial services provider’s stock, valued at approximately $587,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wedmont Private Capital increased its stake in Comerica by 2.4% in the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 186 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Comerica by 5.2% in the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 200 shares in the last quarter. V Square Quantitative Management LLC increased 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 purchasing an additional 221 shares during the last quarter. US Bancorp DE lifted its position in Comerica by 2.0% in the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after buying an additional 227 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in 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 during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CMA. Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley decreased their target price 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. Royal Bank of Canada lowered their price target on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird lifted their price objective on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Truist Financial upgraded Comerica to a “hold” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Comerica has a consensus rating of “Hold” and an average price target of $67.95.

Comerica Stock Performance

Comerica stock opened at $51.48 on Monday. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 10.26 and a beta of 0.96. The stock’s 50 day simple moving average is $62.28 and its two-hundred day simple moving average is $63.57. 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 results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 period in the previous year, the firm earned $1.46 earnings per share. As a group, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.52%. Comerica’s dividend payout ratio (DPR) is currently 56.57%.

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.