Impax Asset Management Group plc Invests $1.06 Million in Comerica Incorporated $CMA

Impax Asset Management Group plc acquired a new stake in shares of Comerica Incorporated (NYSE:CMA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,696 shares of the financial services provider’s stock, valued at approximately $1,056,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey grew its stake in Comerica by 4.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 49,742 shares of the financial services provider’s stock worth $2,967,000 after buying an additional 1,988 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 73,971 shares during the period. Allworth Financial LP lifted its position in Comerica by 36.7% in the 2nd quarter. Allworth Financial LP now owns 13,870 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 3,721 shares during the last quarter. ProShare Advisors LLC boosted its stake in Comerica by 4.1% during the 2nd quarter. ProShare Advisors LLC now owns 5,826 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 227 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Comerica in the 2nd quarter worth about $3,447,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of recent analyst reports. UBS Group set a $64.00 price target on Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. Piper Sandler set a $82.00 price target on Comerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Cantor Fitzgerald initiated coverage on shares of Comerica in a research note on Wednesday, September 10th. They set a “neutral” rating and a $72.00 price objective on the stock. Truist Financial upped their price objective on shares of Comerica from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Finally, TD Cowen initiated coverage on shares of Comerica in a research note on Thursday, September 25th. They set a “hold” rating and a $75.00 target price on the stock. Three 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.55.

Comerica Price Performance

NYSE:CMA opened at $78.29 on Friday. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $83.22. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $10.00 billion, a P/E ratio of 14.94 and a beta of 1.04. The business’s 50-day moving average price is $74.43 and its 200 day moving average price is $66.35.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The company had revenue of $824.00 million for the quarter. As a group, sell-side analysts predict 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 will be paid on Thursday, January 1st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, December 15th. Comerica’s dividend payout ratio is currently 54.20%.

About Comerica

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.