Graham Capital Management L.P. Has $3.51 Million Stake in Comerica Incorporated (NYSE:CMA)

Graham Capital Management L.P. boosted its position in shares of Comerica Incorporated (NYSE:CMA) by 649.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,748 shares of the financial services provider’s stock after purchasing an additional 49,179 shares during the period. Graham Capital Management L.P.’s holdings in Comerica were worth $3,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Comerica by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider’s stock worth $311,464,000 after buying an additional 114,072 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Comerica by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock worth $274,092,000 after purchasing an additional 125,514 shares during the last quarter. North Reef Capital Management LP raised its holdings in shares of Comerica by 15.7% in the 4th quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock valued at $250,492,000 after purchasing an additional 550,000 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in Comerica by 3.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock valued at $153,462,000 after purchasing an additional 72,391 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Comerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider’s stock worth $137,039,000 after purchasing an additional 103,118 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Price Performance

CMA stock opened at $55.98 on Friday. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 11.15 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50 day simple moving average of $55.51 and a 200 day simple moving average of $62.19. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. The company had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the prior year, the business earned $1.29 earnings per share. Research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, June 13th. Comerica’s dividend payout ratio is currently 53.69%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CMA. Royal Bank of Canada decreased their target price on Comerica from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut Comerica from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Truist Financial dropped their target price on Comerica from $65.00 to $57.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Robert W. Baird dropped their price objective on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and a consensus target price of $63.22.

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.