Assenagon Asset Management S.A. Acquires 175,826 Shares of Comerica Incorporated $CMA

Assenagon Asset Management S.A. boosted its holdings in shares of Comerica Incorporated (NYSE:CMA) by 52.8% during the third quarter, Holdings Channel reports. The firm owned 508,689 shares of the financial services provider’s stock after acquiring an additional 175,826 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Comerica were worth $34,855,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Comerica by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,741,310 shares of the financial services provider’s stock valued at $282,819,000 after acquiring an additional 77,869 shares in the last quarter. Primecap Management Co. CA increased its position in Comerica by 55.3% during the 2nd quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock valued at $154,720,000 after purchasing an additional 923,690 shares during the period. Geode Capital Management LLC raised its holdings in Comerica by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,579,763 shares of the financial services provider’s stock worth $153,905,000 after purchasing an additional 73,971 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Comerica by 9.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock worth $137,107,000 after purchasing an additional 203,333 shares during the period. Finally, Azora Capital LP boosted its stake in shares of Comerica by 8.7% during the 2nd quarter. Azora Capital LP now owns 2,063,920 shares of the financial services provider’s stock valued at $123,113,000 after purchasing an additional 164,722 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

Shares of NYSE:CMA opened at $87.92 on Friday. The business has a fifty day moving average price of $79.95 and a 200-day moving average price of $70.68. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $11.24 billion, a PE ratio of 16.78 and a beta of 1.07. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $90.44.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. The company had revenue of $824.00 million for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. As a group, equities analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, December 15th. Comerica’s payout ratio is presently 54.20%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. 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. Cowen began coverage on Comerica in a research note on Wednesday, September 24th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price target (up from $73.00) on shares of Comerica in a research report on Friday, October 10th. Piper Sandler set a $82.00 price objective on Comerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Royal Bank Of Canada raised their price objective on Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $74.26.

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.