TCG Advisory Services LLC Makes New $355,000 Investment in Comerica Incorporated (NYSE:CMA)

TCG Advisory Services LLC bought a new position in shares of Comerica Incorporated (NYSE:CMA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,356 shares of the financial services provider’s stock, valued at approximately $355,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Financial Advisors Inc. acquired a new position in shares of Comerica during the 4th quarter worth $255,000. LSV Asset Management grew its holdings in shares of Comerica by 8.3% in the 4th quarter. LSV Asset Management now owns 735,200 shares of the financial services provider’s stock worth $41,032,000 after acquiring an additional 56,224 shares during the period. M&T Bank Corp increased its stake in Comerica by 7.1% in the 4th quarter. M&T Bank Corp now owns 10,481 shares of the financial services provider’s stock valued at $585,000 after purchasing an additional 693 shares in the last quarter. Amalgamated Bank boosted its position in Comerica by 15.4% during the fourth quarter. Amalgamated Bank now owns 46,843 shares of the financial services provider’s stock worth $2,614,000 after purchasing an additional 6,244 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Comerica during the 4th quarter worth $6,070,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Trading Up 0.5 %

CMA traded up $0.29 during trading on Monday, reaching $53.36. 281,374 shares of the company’s stock were exchanged, compared to its average volume of 2,053,969. Comerica Incorporated has a fifty-two week low of $30.98 and a fifty-two week high of $57.39. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $7.08 billion, a PE ratio of 10.56 and a beta of 1.27. The company’s fifty day moving average price is $51.69 and its 200-day moving average price is $50.12.

Comerica (NYSE:CMA) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. During the same quarter last year, the firm posted $2.39 earnings per share. As a group, equities analysts forecast that Comerica Incorporated will post 5.16 EPS for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.32%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Activity

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the sale, the executive vice president now owns 7,236 shares in the company, valued at $380,541.24. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

CMA has been the topic of several research reports. Piper Sandler increased their price target on shares of Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Royal Bank of Canada lifted their price objective on Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. DA Davidson reiterated a “neutral” rating and set a $56.00 price target on shares of Comerica in a report on Wednesday, March 6th. UBS Group reduced their price objective on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Finally, Raymond James lowered Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.89.

Comerica Company 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.