Qsemble Capital Management LP Takes Position in Comerica Incorporated (NYSE:CMA)

Qsemble Capital Management LP acquired a new stake in Comerica Incorporated (NYSE:CMA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,869 shares of the financial services provider’s stock, valued at approximately $708,000.

Other institutional investors also recently added to or reduced their stakes in the company. Pitcairn Co. lifted its holdings in shares of Comerica by 2.9% in the 1st quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock valued at $374,000 after buying an additional 190 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Comerica by 0.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock worth $1,498,000 after purchasing an additional 201 shares in the last quarter. Summit Securities Group LLC grew its stake in shares of Comerica by 22.4% during the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 202 shares during the period. UMB Bank n.a. increased its holdings in shares of Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 208 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Comerica by 7.6% in the first quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 230 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

NYSE:CMA opened at $57.51 on Friday. The company has a market cap of $7.63 billion, a P/E ratio of 11.43 and a beta of 1.23. The firm’s 50 day moving average is $54.55 and its two-hundred day moving average is $52.29. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $58.50. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA) last issued its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter last year, the firm earned $2.01 earnings per share. Analysts expect that Comerica Incorporated will post 5.05 EPS for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Activity at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CMA has been the subject of a number of research reports. Morgan Stanley lifted 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. Stephens reiterated an “overweight” rating and set a $58.00 target price on shares of Comerica in a research report on Tuesday. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and raised their price target for the company from $50.00 to $69.00 in a research report on Thursday, September 5th. Truist Financial lowered shares of Comerica from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $55.00 to $53.00 in a research report on Monday, July 22nd. Finally, Robert W. Baird dropped their target price on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Comerica presently has a consensus rating of “Hold” and an average target price of $55.73.

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.