Allspring Global Investments Holdings LLC Has $53,000 Stock Position in Comerica Incorporated (NYSE:CMA)

Allspring Global Investments Holdings LLC lessened its stake in Comerica Incorporated (NYSE:CMA) by 57.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 890 shares of the financial services provider’s stock after selling 1,216 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Comerica were worth $53,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in Comerica in the 3rd quarter valued at $36,000. Family Firm Inc. bought a new position in Comerica during the 2nd quarter worth $37,000. UMB Bank n.a. increased its position in Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after buying an additional 208 shares during the period. Versant Capital Management Inc increased its position in Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after buying an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC increased its position in shares of Comerica by 50.2% in the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

CMA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on Comerica from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Barclays lifted their price target on Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Piper Sandler upped their target price on Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Bank of America cut 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. Finally, Royal Bank of Canada dropped their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus target price of $62.81.

Comerica Trading Down 0.8 %

NYSE CMA opened at $62.39 on Tuesday. The firm has a market capitalization of $8.21 billion, a P/E ratio of 15.66 and a beta of 1.22. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. The business has a fifty day simple moving average of $59.43 and a 200 day simple moving average of $54.53. Comerica Incorporated has a 12 month low of $40.41 and a 12 month high of $66.06.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share 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 the consensus estimate of $806.49 million. Comerica had a return on equity of 12.54% and a net margin of 11.17%. During the same quarter in the prior year, the company earned $1.84 EPS. On average, analysts predict that Comerica Incorporated will post 5.37 EPS for the current fiscal year.

Insider Transactions at Comerica

In related news, EVP James Harry Weber sold 6,500 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $63.23, for a total transaction of $410,995.00. Following the sale, the executive vice president now owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Harry Weber sold 6,500 shares of the firm’s stock in a transaction dated 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 directly owns 15,773 shares in the company, valued at approximately $997,326.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,609 shares of company stock worth $1,027,839. 0.19% of the stock is owned by company insiders.

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.