Comerica Incorporated (NYSE:CMA) Shares Sold by JustInvest LLC

JustInvest LLC reduced its position in Comerica Incorporated (NYSE:CMA) by 36.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,431 shares of the financial services provider’s stock after selling 2,503 shares during the period. JustInvest LLC’s holdings in Comerica were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMA. WINTON GROUP Ltd increased its stake in Comerica by 101.4% in the 2nd quarter. WINTON GROUP Ltd now owns 7,134 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 3,592 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Comerica by 20.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 22,589 shares of the financial services provider’s stock valued at $1,610,000 after purchasing an additional 3,883 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Comerica by 7.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,777 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 393 shares in the last quarter. Cibc World Markets Corp increased its stake in Comerica by 87.2% in the 2nd quarter. Cibc World Markets Corp now owns 74,666 shares of the financial services provider’s stock valued at $5,327,000 after purchasing an additional 34,771 shares in the last quarter. Finally, Greenleaf Trust increased its stake in Comerica by 1.3% in the 2nd quarter. Greenleaf Trust now owns 10,529 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 138 shares in the last quarter. 79.32% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on CMA shares. Bank of America raised Comerica from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $88.00 to $105.00 in a research note on Thursday, January 6th. Truist Securities raised their price target on Comerica from $83.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 21st. Royal Bank of Canada raised their price target on Comerica from $91.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, October 21st. Raymond James raised their price target on Comerica from $94.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, October 21st. Finally, B. Riley raised their price target on Comerica from $87.00 to $100.00 in a research report on Wednesday. Four analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.19.

In related news, EVP John D. Buchanan sold 5,688 shares of Comerica stock in a transaction on Thursday, October 28th. The stock was sold at an average price of $85.11, for a total value of $484,105.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James Harry Weber sold 2,454 shares of Comerica stock in a transaction on Friday, October 22nd. The shares were sold at an average price of $88.50, for a total value of $217,179.00. The disclosure for this sale can be found here. Insiders sold 18,066 shares of company stock worth $1,588,810 in the last quarter. 0.67% of the stock is owned by insiders.

Shares of Comerica stock opened at $101.24 on Friday. Comerica Incorporated has a twelve month low of $55.87 and a twelve month high of $101.38. The stock has a market capitalization of $13.28 billion, a P/E ratio of 12.44, a PEG ratio of 0.54 and a beta of 1.48. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $88.19 and its 200 day moving average price is $80.00.

Comerica (NYSE:CMA) last issued its earnings results on Tuesday, October 19th. The financial services provider reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.26. Comerica had a return on equity of 15.22% and a net margin of 38.31%. The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $733.42 million. During the same quarter last year, the firm earned $1.44 earnings per share. As a group, sell-side analysts predict that Comerica Incorporated will post 8.28 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, January 1st. Investors of record on Wednesday, December 15th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.69%. Comerica’s payout ratio is currently 33.42%.

Comerica Profile

Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment is involved in middle market businesses, multinational corporations, and governmental entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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