Teza Capital Management LLC Makes New Investment in Comerica Incorporated (NYSE:CMA)

Teza Capital Management LLC acquired a new stake in Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,106 shares of the financial services provider’s stock, valued at approximately $1,367,000.

Other large investors have also made changes to their positions in the company. Trust Co. of Vermont boosted its holdings in shares of Comerica by 300.0% in 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 last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica in the 4th quarter valued at $31,000. MCF Advisors LLC boosted its holdings in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 228 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 221 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Comerica by 152.0% in the 4th quarter. Quarry LP now owns 867 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 523 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Up 1.3%

Shares of NYSE:CMA opened at $58.81 on Monday. The firm’s 50 day moving average price is $55.56 and its 200 day moving average price is $62.02. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 11.71 and a beta of 0.92. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.11. The firm had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the company earned $1.29 earnings per share. As a group, equities research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.83%. Comerica’s payout ratio is currently 53.69%.

Wall Street Analyst Weigh In

CMA has been the topic of several recent research reports. Raymond James dropped their price objective on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Argus upgraded shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley cut shares of Comerica from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. The Goldman Sachs Group reduced their price objective on shares of Comerica from $66.00 to $57.00 and set a “neutral” rating for the company in a research report 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 report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Comerica has an average rating of “Hold” and a consensus price target of $63.22.

Comerica Company 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.