New Age Alpha Advisors LLC Purchases Shares of 19,368 Comerica Incorporated (NYSE:CMA)

New Age Alpha Advisors LLC purchased a new position in Comerica Incorporated (NYSE:CMA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 19,368 shares of the financial services provider’s stock, valued at approximately $1,198,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its stake in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 321 shares during the period. Luken Investment Analytics LLC acquired a new stake in shares of Comerica in the fourth quarter valued at about $31,000. MCF Advisors LLC boosted its holdings 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. Wilmington Savings Fund Society FSB purchased a new stake in shares of Comerica during the third quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC grew its holdings in shares of 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 buying an additional 221 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Price Performance

Comerica stock opened at $58.73 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $7.71 billion, a PE ratio of 11.70 and a beta of 1.23. The firm’s 50-day simple moving average is $63.07 and its 200 day simple moving average is $63.63. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45.

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

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 4.84%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s dividend payout ratio is presently 56.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CMA. Robert W. Baird boosted their price target 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. Barclays lifted their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Piper Sandler upped their target price on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods cut their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price target on Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.00.

Comerica 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.