Pacer Advisors Inc. Takes $1.16 Million Position in Comerica Incorporated $CMA

Pacer Advisors Inc. acquired a new position in shares of Comerica Incorporated (NYSE:CMA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,935 shares of the financial services provider’s stock, valued at approximately $1,160,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in Comerica in the second quarter valued at approximately $35,000. Geneos Wealth Management Inc. boosted its holdings in shares of Comerica by 41.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 176 shares in the last quarter. Employees Retirement System of Texas bought a new position in shares of Comerica in the 2nd quarter valued at $48,000. MAI Capital Management raised its holdings in shares of Comerica by 32.1% during the 1st quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock worth $56,000 after buying an additional 229 shares in the last quarter. Finally, Proffitt & Goodson Inc. boosted its stake in Comerica by 64.1% in the second quarter. Proffitt & Goodson Inc. now owns 1,011 shares of the financial services provider’s stock valued at $60,000 after buying an additional 395 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Price Performance

CMA stock opened at $87.05 on Friday. The company has a market capitalization of $11.12 billion, a P/E ratio of 16.61 and a beta of 1.03. The company has a fifty day moving average price of $82.21 and a 200-day moving average price of $72.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $90.44.

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 return on equity of 10.69% and a net margin of 14.91%. As a group, equities analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Monday, December 15th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, December 15th. Comerica’s dividend payout ratio (DPR) is 54.20%.

Analyst Ratings Changes

CMA has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Weiss Ratings downgraded shares of Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Royal Bank Of Canada raised their target price on shares of Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Cowen began coverage on shares of Comerica in a report on Wednesday, September 24th. They set a “hold” rating for the company. Finally, Truist Financial increased their price target on Comerica from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Two research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Comerica has an average rating of “Hold” and an average price target of $75.68.

Comerica Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.