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

Y Intercept Hong Kong Ltd reduced its position in Comerica Incorporated (NYSE:CMA) by 12.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont increased its holdings in 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 buying an additional 321 shares during the period. Luken Investment Analytics LLC bought a new stake in shares of Comerica during the 4th quarter valued at approximately $31,000. MCF Advisors LLC grew its holdings in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica during the 3rd quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC grew its holdings in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Morgan Stanley decreased their price target on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Robert W. Baird lifted their price target on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Truist Financial upgraded shares of Comerica to a “hold” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada cut their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.57.

Comerica Stock Down 0.8 %

Comerica stock opened at $64.28 on Wednesday. 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 Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The firm’s fifty day moving average is $64.33 and its 200 day moving average is $63.03. The company has a market capitalization of $8.45 billion, a PE ratio of 12.80 and a beta of 1.25.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the company posted $1.46 EPS. As a group, sell-side analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

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

Comerica declared that its board has initiated a share buyback plan on Tuesday, November 5th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.