Skopos Labs Inc. Invests $226,000 in Comerica Incorporated (NYSE:CMA)

Skopos Labs Inc. acquired a new position in shares of Comerica Incorporated (NYSE:CMAFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,054 shares of the financial services provider’s stock, valued at approximately $226,000.

A number of other institutional investors have also added to or reduced their stakes in CMA. Norges Bank acquired a new position in Comerica during the 4th quarter worth approximately $80,691,000. Vaughan Nelson Investment Management L.P. increased its position in Comerica by 129.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock valued at $107,716,000 after acquiring an additional 1,088,330 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Comerica by 60.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock valued at $145,444,000 after purchasing an additional 984,391 shares during the last quarter. North Reef Capital Management LP boosted its stake in shares of Comerica by 43.0% in the 3rd quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock valued at $119,664,000 after purchasing an additional 865,870 shares during the last quarter. Finally, rhino investment partners Inc boosted its stake in shares of Comerica by 684.2% in the 3rd quarter. rhino investment partners Inc now owns 744,956 shares of the financial services provider’s stock valued at $30,953,000 after purchasing an additional 649,956 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMA has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Evercore ISI upped their price objective on shares of Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Citigroup lowered shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $60.00 to $56.00 in a research note on Monday, May 6th. Royal Bank of Canada increased their target price on shares of Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, Truist Financial cut their target price on shares of Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.89.

Read Our Latest Report on CMA

Comerica Stock Up 1.1 %

Shares of CMA stock traded up $0.53 on Friday, hitting $50.77. The stock had a trading volume of 1,949,797 shares, compared to its average volume of 1,575,341. The business has a 50 day moving average of $52.56 and a 200 day moving average of $51.44. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 10.09 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. Comerica Incorporated has a 12-month low of $34.88 and a 12-month high of $57.39.

Comerica (NYSE:CMAGet Free Report) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the prior year, the company posted $2.39 earnings per share. As a group, analysts expect that Comerica Incorporated will post 5.19 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.59%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the sale, the executive vice president now owns 7,236 shares in the company, valued at $380,541.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by corporate insiders.

Comerica Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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