UMB Bank n.a. Has $38,000 Holdings in Comerica Incorporated (NYSE:CMA)

UMB Bank n.a. lifted its stake in Comerica Incorporated (NYSE:CMA) by 39.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 737 shares of the financial services provider’s stock after buying an additional 208 shares during the period. UMB Bank n.a.’s holdings in Comerica were worth $38,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Spire Wealth Management raised its holdings in shares of Comerica by 95.9% in the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after buying an additional 235 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Comerica in the 2nd quarter worth approximately $37,000. Versant Capital Management Inc raised its holdings in shares of Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after buying an additional 817 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Comerica by 50.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after buying an additional 300 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Comerica during the 4th quarter valued at $51,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Trading Up 1.1 %

Shares of NYSE:CMA opened at $57.11 on Friday. Comerica Incorporated has a 12-month low of $37.40 and a 12-month high of $58.50. The stock has a market cap of $7.57 billion, a PE ratio of 11.35 and a beta of 1.25. The business has a 50 day moving average of $53.25 and a 200-day moving average of $51.88. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.19 by $0.30. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period in the previous year, the business earned $2.01 earnings per share. As a group, equities research analysts forecast that Comerica Incorporated will post 5.05 earnings per share for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.97%. Comerica’s payout ratio is 56.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CMA shares. StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a report on Tuesday, August 27th. Keefe, Bruyette & Woods dropped their price target on Comerica from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Truist Financial cut Comerica from a “buy” rating to a “hold” rating and dropped their price target for the company from $55.00 to $53.00 in a report on Monday, July 22nd. Royal Bank of Canada dropped their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. dropped their price target on Comerica from $62.00 to $57.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and a consensus target price of $55.45.

Insider Activity at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

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.