ExodusPoint Capital Management LP Purchases 182,538 Shares of Comerica Incorporated (NYSE:CMA)

ExodusPoint Capital Management LP boosted its position in shares of Comerica Incorporated (NYSE:CMA) by 244.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 257,184 shares of the financial services provider’s stock after acquiring an additional 182,538 shares during the period. ExodusPoint Capital Management LP’s holdings in Comerica were worth $15,907,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. PL Capital Advisors LLC raised its holdings in shares of Comerica by 6,085.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock worth $109,981,000 after acquiring an additional 1,749,438 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Comerica during the fourth quarter valued at $82,419,000. Norges Bank bought a new position in Comerica during the fourth quarter valued at $64,150,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Comerica by 29.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider’s stock worth $132,952,000 after buying an additional 492,381 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after buying an additional 490,468 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CMA shares. Argus raised shares of Comerica to a “hold” rating in a report on Friday, January 31st. Barclays lifted their target price on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Truist Financial raised Comerica to a “hold” rating in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Finally, Robert W. Baird increased their target price on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.95.

Comerica Price Performance

CMA opened at $53.32 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The business’s fifty day simple moving average is $62.51 and its 200-day simple moving average is $63.55. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 10.62 and a beta of 1.23. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45.

Comerica (NYSE:CMA) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 in the previous year, the company posted $1.46 EPS. On average, equities research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.33%. Comerica’s dividend payout ratio 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.