Aigen Investment Management LP Invests $891,000 in Comerica Incorporated (NYSE:CMA)

Aigen Investment Management LP purchased a new position in shares of Comerica Incorporated (NYSE:CMA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,966 shares of the financial services provider’s stock, valued at approximately $891,000.

Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Comerica in the 4th quarter valued at approximately $80,691,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of 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 worth $107,716,000 after buying an additional 1,088,330 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 worth $145,444,000 after buying an additional 984,391 shares in the last quarter. North Reef Capital Management LP raised its holdings 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 worth $119,664,000 after buying an additional 865,870 shares in the last quarter. Finally, rhino investment partners Inc raised its holdings 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 worth $30,953,000 after buying an additional 649,956 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Trading Down 0.7 %

Comerica stock traded down $0.35 during mid-day trading on Wednesday, hitting $53.25. 141,226 shares of the company’s stock were exchanged, compared to its average volume of 1,956,763. The firm has a market capitalization of $7.06 billion, a P/E ratio of 10.66 and a beta of 1.27. Comerica Incorporated has a fifty-two week low of $34.88 and a fifty-two week high of $57.39. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The company’s 50 day simple moving average is $52.48 and its 200-day simple moving average is $51.32.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same quarter last year, the business posted $2.39 EPS. On average, equities analysts anticipate that Comerica Incorporated will post 5.16 earnings per share for the current year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio is 56.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CMA shares. Evercore ISI increased their target price on Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Piper Sandler increased their price target on Comerica from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Jefferies Financial Group decreased their price target on Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. DA Davidson restated a “neutral” rating and set a $56.00 price target on shares of Comerica in a research report on Wednesday, March 6th. Finally, Argus lowered Comerica from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.89.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Comerica 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.