Nisa Investment Advisors LLC Sells 6,897 Shares of Comerica Incorporated (NYSE:CMA)

Nisa Investment Advisors LLC cut its holdings in Comerica Incorporated (NYSE:CMA) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,860 shares of the financial services provider’s stock after selling 6,897 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Comerica were worth $3,936,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mission Wealth Management LP boosted its position in shares of Comerica by 11.3% during the first quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock valued at $348,000 after buying an additional 644 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Comerica by 13.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock valued at $3,375,000 after acquiring an additional 7,418 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Comerica by 79.2% in the first quarter. BNP Paribas Financial Markets now owns 346,804 shares of the financial services provider’s stock worth $19,071,000 after acquiring an additional 153,301 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Comerica during the first quarter valued at approximately $93,000. Finally, Graypoint LLC lifted its position in Comerica by 51.1% during the first quarter. Graypoint LLC now owns 6,503 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 2,198 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Stock Down 1.3 %

Shares of CMA opened at $62.89 on Friday. The business’s 50 day moving average is $59.43 and its 200 day moving average is $54.47. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. Comerica Incorporated has a 12-month low of $39.94 and a 12-month high of $66.06. The company has a market capitalization of $8.27 billion, a PE ratio of 15.72 and a beta of 1.23.

Comerica (NYSE:CMA) last released its earnings results 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 firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same quarter in the previous year, the firm earned $1.84 earnings per share. Research analysts expect that Comerica Incorporated will post 5.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Bruce Mitchell sold 7,564 shares of the firm’s stock in a transaction dated 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 owns 16,428 shares in the company, valued at $1,021,821.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Bruce Mitchell sold 7,564 shares of the stock in a transaction that occurred 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. 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 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMA. The Goldman Sachs Group boosted their target price on shares of Comerica from $63.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on Comerica from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Evercore ISI raised their target price on Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a research report on Wednesday. Barclays upped their price target on shares of Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Finally, Truist Financial raised their price objective on shares of Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.81.

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.