Y Intercept Hong Kong Ltd Sells 4,125 Shares of Comerica Incorporated (NYSE:CMA)

Y Intercept Hong Kong Ltd lowered its stake in shares of Comerica Incorporated (NYSE:CMA) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,350 shares of the financial services provider’s stock after selling 4,125 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Comerica were worth $1,815,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after buying an additional 490,468 shares during the period. Oppenheimer & Co. Inc. grew its position in Comerica by 158.2% during the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider’s stock valued at $1,218,000 after buying an additional 12,454 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Comerica by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider’s stock valued at $257,975,000 after purchasing an additional 226,285 shares during the last quarter. Citigroup Inc. lifted its holdings in Comerica by 390.6% during the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock valued at $45,628,000 after purchasing an additional 606,375 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Comerica during the third quarter valued at about $1,905,000. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

Shares of Comerica stock opened at $64.28 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $8.45 billion, a P/E ratio of 12.80 and a beta of 1.25. The business has a fifty day simple moving average of $64.33 and a two-hundred day simple moving average of $63.03. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45.

Comerica (NYSE:CMA) last posted 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 period in the previous year, the business posted $1.46 earnings per share. On average, equities analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.42%. Comerica’s dividend payout ratio is presently 56.57%.

Comerica declared that its board has initiated a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on CMA shares. Barclays upped their price objective on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Truist Financial raised shares of Comerica to a “hold” rating in a report on Monday, January 6th. Evercore ISI upped their price objective on shares of Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their price objective 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, Argus raised shares of Comerica to a “hold” rating in a report on Friday, January 31st. Three 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. According to MarketBeat, Comerica currently has an average rating of “Hold” and an average price target of $68.57.

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.