1,300 Shares in Comerica Incorporated $CMA Acquired by Traub Capital Management LLC

Traub Capital Management LLC purchased a new position in Comerica Incorporated (NYSE:CMA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,300 shares of the financial services provider’s stock, valued at approximately $78,000.

A number of other hedge funds also recently made changes to their positions in CMA. Baron Wealth Management LLC acquired a new stake in Comerica during the 2nd quarter valued at $240,000. Rhino Investment Partners Inc boosted its position in Comerica by 35.4% in the 1st quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock valued at $23,191,000 after buying an additional 102,647 shares during the last quarter. Wolverine Asset Management LLC boosted its position in Comerica by 25.8% in the 1st quarter. Wolverine Asset Management LLC now owns 41,997 shares of the financial services provider’s stock valued at $2,480,000 after buying an additional 8,604 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Comerica by 13.1% during the first quarter. HighTower Advisors LLC now owns 48,407 shares of the financial services provider’s stock valued at $2,859,000 after acquiring an additional 5,596 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Comerica by 9.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock worth $137,107,000 after acquiring an additional 203,333 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CMA has been the subject of a number of analyst reports. Morgan Stanley raised Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price target for the company in a report on Tuesday, October 7th. Cowen began coverage on Comerica in a research note on Wednesday, September 24th. They set a “hold” rating for the company. TD Cowen initiated coverage on shares of Comerica in a research note on Thursday, September 25th. They issued a “hold” rating and a $75.00 price target for the company. Truist Financial upped their price target on shares of Comerica from $68.00 to $70.00 and gave the company a “hold” rating in a report on Friday, September 12th. Finally, Wells Fargo & Company raised their price objective on shares of Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Three equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.55.

Comerica Price Performance

Shares of CMA opened at $76.52 on Thursday. The company has a market cap of $9.78 billion, a P/E ratio of 14.60 and a beta of 1.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $83.22. The stock has a fifty day moving average price of $74.87 and a 200 day moving average price of $66.88.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. The business had revenue of $824.00 million during the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. On average, research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, December 15th. Comerica’s dividend payout ratio (DPR) is currently 54.20%.

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.