Comerica Incorporated (NYSE:CMA) Shares Sold by Mather Group LLC.

Mather Group LLC. cut its position in Comerica Incorporated (NYSE:CMA) by 29.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,408 shares of the financial services provider’s stock after selling 1,411 shares during the period. Mather Group LLC.’s holdings in Comerica were worth $204,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in Comerica in the second quarter valued at approximately $37,000. UMB Bank n.a. boosted its holdings in shares of Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring 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 acquiring an additional 817 shares during the period. Abich Financial Wealth Management LLC raised its holdings in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 300 shares during the last quarter. Finally, Summit Securities Group LLC lifted its position 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 period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Comerica from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com lowered Comerica from a “hold” rating to a “sell” rating in a report on Friday. Bank of America downgraded Comerica from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $55.00 to $52.00 in a report on Monday, October 7th. Morgan Stanley raised their price objective on shares of Comerica from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada decreased their target price on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.62.

Comerica Trading Up 3.2 %

Shares of CMA stock opened at $61.28 on Friday. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $61.84. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s fifty day moving average is $56.89 and its two-hundred day moving average is $53.47. The firm has a market capitalization of $8.12 billion, a P/E ratio of 12.18 and a beta of 1.23.

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 the consensus estimate of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. During the same period last year, the firm posted $2.01 earnings per share. Research analysts expect that Comerica Incorporated will post 5.12 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.63%. Comerica’s dividend payout ratio is presently 56.46%.

Insiders Place Their Bets

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The stock was 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 in the company, valued at $1,605,104.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate 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.