Quantbot Technologies LP Buys 1,688 Shares of Comerica Incorporated (NYSE:CMA)

Quantbot Technologies LP boosted its stake in Comerica Incorporated (NYSE:CMA) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,672 shares of the financial services provider’s stock after purchasing an additional 1,688 shares during the quarter. Quantbot Technologies LP owned about 0.11% of Comerica worth $7,231,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Comerica by 17.4% in the fourth quarter. International Assets Investment Management LLC now owns 6,385 shares of the financial services provider’s stock valued at $356,000 after acquiring an additional 945 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Comerica by 348.6% in the 4th quarter. Victory Capital Management Inc. now owns 22,699 shares of the financial services provider’s stock valued at $1,267,000 after purchasing an additional 17,639 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Comerica during the 4th quarter valued at approximately $121,000. Envestnet Portfolio Solutions Inc. acquired a new position in Comerica during the 4th quarter worth approximately $492,000. Finally, Principal Financial Group Inc. lifted its stake in Comerica by 2.1% in the 4th quarter. Principal Financial Group Inc. now owns 159,385 shares of the financial services provider’s stock valued at $8,895,000 after purchasing an additional 3,227 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Price Performance

CMA opened at $57.49 on Monday. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $58.50. The firm has a 50-day moving average of $54.55 and a 200 day moving average of $52.34. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $7.62 billion, a P/E ratio of 11.43 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.30. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the business posted $2.01 EPS. On average, research analysts expect that Comerica Incorporated will post 5.05 EPS for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.94%. Comerica’s payout ratio is presently 56.46%.

Insider Activity

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMA. Evercore ISI lowered their price target on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Morgan Stanley upped their price target on shares of Comerica from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods raised Comerica from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $69.00 in a research report on Thursday, September 5th. Wells Fargo & Company cut their target price on Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 12th. Finally, StockNews.com cut Comerica from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.73.

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.