Comerica Incorporated (NYSE:CMA) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in Comerica Incorporated (NYSE:CMA) by 97.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 435,085 shares of the financial services provider’s stock after acquiring an additional 214,426 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Comerica were worth $26,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of 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 acquiring an additional 3,595,036 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings 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 last quarter. Samlyn Capital LLC acquired a new position in shares of Comerica in the 2nd quarter valued at approximately $35,375,000. Principal Financial Group Inc. boosted its stake in shares of Comerica by 311.2% during the 2nd 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 during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Comerica by 183.5% during the second quarter. Hsbc Holdings PLC now owns 548,786 shares of the financial services provider’s stock worth $27,608,000 after buying an additional 355,229 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Buying and Selling at Comerica

In other news, EVP Bruce Mitchell sold 7,564 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total transaction of $470,480.80. Following the sale, the executive vice president now owns 16,428 shares in the company, valued at $1,021,821.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP James Harry Weber sold 6,500 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $63.23, for a total value of $410,995.00. Following the completion of the sale, the executive vice president now owns 15,773 shares of the company’s stock, valued at $997,326.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the transaction, the executive vice president now directly owns 16,428 shares in the company, valued at approximately $1,021,821.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,609 shares of company stock valued at $1,027,839. 0.19% of the stock is currently owned by corporate insiders.

Comerica Stock Down 1.9 %

CMA stock opened at $61.77 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $8.19 billion, a PE ratio of 12.28 and a beta of 1.23. Comerica Incorporated has a 12 month low of $37.54 and a 12 month high of $66.06. The firm has a 50 day simple moving average of $58.70 and a 200 day simple moving average of $54.08.

Comerica (NYSE:CMA) last issued its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the previous year, the firm posted $1.84 EPS. Equities research analysts forecast that Comerica Incorporated will post 5.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CMA has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Morgan Stanley upped their price objective on Comerica from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $75.00 in a research report on Tuesday, September 24th. Truist Financial upped their price target on Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, Raymond James raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Tuesday, July 2nd. Three 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. Based on data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average price target of $62.57.

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.