State of Alaska Department of Revenue Has $4.54 Million Stock Position in Comerica Incorporated (NYSE:CMA)

State of Alaska Department of Revenue lowered its position in Comerica Incorporated (NYSE:CMA) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,722 shares of the financial services provider’s stock after selling 2,122 shares during the quarter. State of Alaska Department of Revenue’s holdings in Comerica were worth $4,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Comerica in the 3rd quarter valued at approximately $36,000. Family Firm Inc. bought a new stake in shares of Comerica in the second quarter worth $37,000. UMB Bank n.a. increased its holdings in 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 purchasing an additional 208 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 817 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its stake in Comerica by 50.2% in 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 in the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

Comerica stock opened at $62.72 on Wednesday. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 12.47 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. The business has a 50-day simple moving average of $58.96 and a 200 day simple moving average of $54.25. 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 data on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter in the previous year, the firm earned $1.84 earnings per share. On average, research analysts forecast that Comerica Incorporated will post 5.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on CMA shares. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research report 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 note on Tuesday, September 24th. The Goldman Sachs Group lifted their price target on shares of Comerica from $63.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada cut their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, Truist Financial upped their price objective on shares of Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.57.

Insiders Place Their Bets

In other Comerica news, EVP James Harry Weber sold 6,500 shares of the company’s stock in a transaction that occurred 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Comerica news, EVP James Harry Weber sold 6,500 shares of Comerica stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 15,773 shares of the company’s stock, valued at $997,326.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction of $470,480.80. Following the completion of the transaction, the executive vice president now directly owns 16,428 shares in the company, valued at approximately $1,021,821.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,609 shares of company stock valued at $1,027,839 in the last quarter. Corporate insiders own 0.19% of the company’s stock.

About Comerica

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.