Comerica Incorporated (NYSE:CMA) Stake Increased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its stake in Comerica Incorporated (NYSE:CMA) by 21.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,633 shares of the financial services provider’s stock after buying an additional 20,920 shares during the period. Ensign Peak Advisors Inc owned about 0.09% of Comerica worth $6,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of Comerica in the second quarter worth $37,000. UMB Bank n.a. increased its stake in shares of Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after buying an additional 208 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Comerica by 2,723.3% in the second 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 during the last quarter. Abich Financial Wealth Management LLC increased its stake in Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the last quarter. Finally, Summit Securities Group LLC increased its stake in Comerica by 22.4% during the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 SEC, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Comerica Stock Down 2.9 %

NYSE:CMA opened at $58.72 on Thursday. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 11.67 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The business’s fifty day moving average price is $55.40 and its 200 day moving average price is $52.82. Comerica Incorporated has a 1-year low of $37.40 and a 1-year high of $61.84.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. During the same period in the prior year, the business posted $2.01 earnings per share. On average, sell-side analysts forecast that Comerica Incorporated will post 5.06 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th 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 4.84%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Wall Street Analyst Weigh In

CMA has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Truist Financial boosted their target price on shares of Comerica from $53.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Barclays lowered their target price on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. StockNews.com lowered shares of Comerica from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their target price on shares of Comerica from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average target price of $57.68.

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.