Fiduciary Alliance LLC Increases Stock Position in Comerica Incorporated (NYSE:CMA)

Fiduciary Alliance LLC increased its position in Comerica Incorporated (NYSE:CMA) by 12.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,486 shares of the financial services provider’s stock after purchasing an additional 1,041 shares during the quarter. Fiduciary Alliance LLC’s holdings in Comerica were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Comerica by 8.9% in the fourth quarter. GAMMA Investing LLC now owns 6,084 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 499 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Comerica by 134.0% in the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after purchasing an additional 490,468 shares during the period. Franklin Resources Inc. boosted its stake in shares of Comerica by 9.3% in the third quarter. Franklin Resources Inc. now owns 14,690 shares of the financial services provider’s stock valued at $901,000 after purchasing an additional 1,255 shares during the period. Tidal Investments LLC boosted its stake in Comerica by 96.2% during the 3rd quarter. Tidal Investments LLC now owns 32,138 shares of the financial services provider’s stock valued at $1,925,000 after acquiring an additional 15,758 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Comerica during the 3rd quarter valued at $42,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Comerica

In other news, EVP Allysun C. Fleming sold 1,392 shares of Comerica stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the transaction, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. The trade was a 13.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bruce Mitchell sold 7,564 shares of Comerica 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 $1,021,821.60. This represents a 31.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,456 shares of company stock valued at $977,287. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CMA shares. Stephens increased their price objective on shares of Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods increased their price objective on shares of Comerica from $72.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. DA Davidson increased their price objective on shares of Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Evercore ISI increased their price objective on shares of Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird increased their price objective on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus price target of $67.14.

Comerica Stock Up 1.3 %

Comerica stock opened at $60.99 on Tuesday. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 15.25 and a beta of 1.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The company’s 50-day moving average price is $66.38 and its two-hundred day moving average price is $60.14. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45.

Comerica (NYSE:CMA) last released its earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.17 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same quarter last year, the company earned $1.84 EPS. On average, analysts expect that Comerica Incorporated will post 5.37 EPS for the current fiscal year.

Comerica declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, December 13th. This represents a $2.84 annualized dividend and a yield of 4.66%. Comerica’s payout ratio is 71.00%.

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.