Aigen Investment Management LP Buys Shares of 9,730 Comerica Incorporated (NYSE:CMA)

Aigen Investment Management LP bought a new stake in Comerica Incorporated (NYSE:CMA) during the 4th quarter, HoldingsChannel reports. The fund bought 9,730 shares of the financial services provider’s stock, valued at approximately $602,000.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Comerica by 134.0% in the 3rd 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. increased its holdings in Comerica by 158.2% in the 3rd 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. increased its holdings in Comerica by 5.5% in the 3rd 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 buying an additional 226,285 shares during the period. Citigroup Inc. increased its holdings in Comerica by 390.6% in the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock valued at $45,628,000 after buying an additional 606,375 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Comerica in the 3rd quarter valued at about $1,905,000. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CMA. Robert W. Baird raised their target price on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Keefe, Bruyette & Woods reduced their price target on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. UBS Group initiated coverage on shares of Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Compass Point raised their price target on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.67.

Comerica Stock Down 1.5 %

Shares of NYSE CMA opened at $58.47 on Friday. The company has a market capitalization of $7.68 billion, a P/E ratio of 11.65 and a beta of 1.25. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The company’s 50 day moving average price is $64.42 and its 200-day moving average price is $63.28.

Comerica (NYSE:CMA) last issued its quarterly 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 return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the company posted $1.46 earnings per share. Equities analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.86%. Comerica’s dividend payout ratio (DPR) is currently 56.57%.

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.