Comerica Incorporated (NYSE:CMA) Shares Sold by Cwm LLC

Cwm LLC lowered its position in shares of Comerica Incorporated (NYSE:CMA) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,343 shares of the financial services provider’s stock after selling 703 shares during the quarter. Cwm LLC’s holdings in Comerica were worth $1,039,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Comerica by 105.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 3,595,036 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Comerica by 51.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after purchasing an additional 1,370,886 shares during the period. Samlyn Capital LLC purchased a new position in shares of Comerica during the 2nd quarter worth approximately $35,375,000. Vanguard Group Inc. lifted its holdings in shares of Comerica by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after buying an additional 676,959 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Comerica by 311.2% in the second quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider’s stock valued at $33,845,000 after buying an additional 501,857 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Up 0.4 %

Shares of CMA opened at $62.60 on Friday. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $63.27. The company’s fifty day moving average is $57.70 and its two-hundred day moving average is $53.69. The firm has a market cap of $8.30 billion, a PE ratio of 12.45 and a beta of 1.23. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA) last issued its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter last year, the firm earned $2.01 earnings per share. Analysts forecast that Comerica Incorporated will post 5.12 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend was Friday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Activity at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the business’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 completion of the sale, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CMA has been the subject of several research analyst reports. Bank of America downgraded Comerica from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $55.00 to $52.00 in a report on Monday, October 7th. Morgan Stanley boosted their price objective on shares of Comerica from $61.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Evercore ISI increased their target price on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Piper Sandler upped their price target on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Comerica in a research note on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus target price of $59.62.

Comerica Company 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.