Sequoia Financial Advisors LLC Invests $216,000 in Comerica Incorporated (NYSE:CMA)

Sequoia Financial Advisors LLC bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,599 shares of the financial services provider’s stock, valued at approximately $216,000.

Several other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of Comerica by 51.3% during the second 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. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Comerica by 1.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after purchasing an additional 19,068 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Comerica by 9.3% during the second quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock worth $78,288,000 after purchasing an additional 130,458 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Comerica by 6.5% during the second quarter. Thrivent Financial for Lutherans now owns 1,431,750 shares of the financial services provider’s stock worth $73,077,000 after purchasing an additional 87,101 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Comerica by 21.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 923,009 shares of the financial services provider’s stock worth $50,756,000 after purchasing an additional 160,103 shares during the period. 80.74% of the stock is owned by institutional investors.

Insider Activity at Comerica

In related news, EVP James Harry Weber sold 6,500 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total value of $410,995.00. Following the transaction, the executive vice president now owns 15,773 shares in the company, valued at $997,326.79. 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 at this hyperlink. In other Comerica news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Harry Weber sold 6,500 shares of Comerica stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total transaction of $410,995.00. Following the completion of the sale, the executive vice president now directly owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,609 shares of company stock worth $1,027,839 over the last quarter. Company insiders own 0.19% of the company’s stock.

Comerica Price Performance

Shares of NYSE:CMA opened at $62.72 on Wednesday. The firm has a market cap of $8.32 billion, a PE ratio of 12.47 and a beta of 1.23. The firm’s fifty day moving average is $58.96 and its 200-day moving average is $54.25. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. Comerica Incorporated has a 52 week low of $37.92 and a 52 week high of $66.06.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMA. JPMorgan Chase & Co. lifted their price objective on shares of Comerica from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. DA Davidson lifted their price objective on shares of Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Bank of America cut shares of Comerica from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $55.00 to $52.00 in a research note on Monday, October 7th. Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $52.00 to $75.00 in a research note on Tuesday, September 24th. Finally, StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. 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, the stock presently has a consensus rating of “Hold” and an average target price 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.