Aster Capital Management DIFC Ltd Makes New $587,000 Investment in Comerica Incorporated (NYSE:CMA)

Aster Capital Management DIFC Ltd purchased a new position in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,493 shares of the financial services provider’s stock, valued at approximately $587,000.

Several other large investors also recently modified their holdings of the stock. State Street Corp boosted its stake in Comerica by 2.0% during the third quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock worth $301,745,000 after acquiring an additional 96,084 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Comerica by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock valued at $274,092,000 after purchasing an additional 125,514 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Comerica by 3.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock worth $153,462,000 after purchasing an additional 72,391 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Comerica by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider’s stock valued at $137,039,000 after buying an additional 103,118 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Comerica by 29.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider’s stock valued at $132,952,000 after buying an additional 492,381 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Performance

NYSE CMA opened at $51.48 on Monday. The company has a market capitalization of $6.75 billion, a PE ratio of 10.26 and a beta of 0.96. 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 50-day simple moving average of $62.28 and a 200 day simple moving average of $63.57.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (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 previous year, the business posted $1.46 EPS. On average, research analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 dividend yield of 5.52%. Comerica’s dividend payout ratio is presently 56.57%.

Analyst Ratings Changes

Several research analysts have issued reports on CMA shares. Compass Point increased their price target on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Truist Financial upgraded Comerica to a “hold” rating in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price target on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird raised their price objective on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada decreased their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.95.

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.