Entropy Technologies LP Purchases Shares of 32,077 Comerica Incorporated (NYSE:CMA)

Entropy Technologies LP acquired a new stake in shares of Comerica Incorporated (NYSE:CMA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,077 shares of the financial services provider’s stock, valued at approximately $1,764,000.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management boosted its stake in shares of Comerica by 95.9% during the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Comerica during the fourth quarter valued at approximately $36,000. Fortitude Family Office LLC purchased a new stake in Comerica in the fourth quarter worth $36,000. FNY Investment Advisers LLC purchased a new stake in Comerica in the fourth quarter worth $50,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Comerica in the fourth quarter worth $51,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Activity at Comerica

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the transaction, 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 is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMA. Jefferies Financial Group dropped their price target on Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Piper Sandler lifted their price objective on Comerica from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods lowered their price target on Comerica from $58.00 to $56.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a report on Wednesday, April 10th. They issued a “hold” rating and a $59.00 price target on the stock. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $53.00 price target on shares of Comerica in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Comerica currently has an average rating of “Hold” and a consensus price target of $55.96.

Comerica Trading Up 0.4 %

CMA traded up $0.23 during trading hours on Thursday, reaching $57.65. 94,540 shares of the company’s stock traded hands, compared to its average volume of 2,206,210. The firm has a 50-day moving average price of $50.82 and a 200 day moving average price of $51.78. Comerica Incorporated has a 52-week low of $37.40 and a 52-week high of $58.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $7.64 billion, a PE ratio of 11.42 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $807.57 million. During the same quarter in the previous year, the business earned $2.39 EPS. As a group, sell-side analysts predict that Comerica Incorporated will post 5.01 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Friday, June 14th. Comerica’s payout ratio is currently 56.46%.

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.