Strs Ohio Raises Position in Comerica Incorporated $CMA

Strs Ohio increased its holdings in Comerica Incorporated (NYSE:CMA) by 39.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 27,627 shares of the financial services provider’s stock after acquiring an additional 7,754 shares during the quarter. Strs Ohio’s holdings in Comerica were worth $1,648,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMA. Gen Wealth Partners Inc purchased a new stake in shares of Comerica in the first quarter worth $34,000. FNY Investment Advisers LLC purchased a new stake in shares of Comerica in the second quarter worth $35,000. Geneos Wealth Management Inc. raised its position in shares of Comerica by 41.8% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after buying an additional 176 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Comerica in the first quarter worth $55,000. Finally, MAI Capital Management increased its stake in Comerica by 32.1% in the first quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 1.5%

Shares of NYSE:CMA opened at $77.33 on Wednesday. The stock’s 50-day moving average price is $73.10 and its 200-day moving average price is $65.07. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $83.22. The stock has a market capitalization of $9.88 billion, a P/E ratio of 14.76 and a beta of 0.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%.The firm had revenue of $824.00 million for the quarter. On average, equities analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of research analyst reports. UBS Group set a $64.00 target price on Comerica and gave the company a “neutral” rating in a research note on Monday, July 21st. Weiss Ratings cut Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. TD Cowen initiated coverage on Comerica in a research note on Thursday, September 25th. They issued a “hold” rating and a $75.00 target price on the stock. Cantor Fitzgerald initiated coverage on Comerica in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 target price on the stock. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $93.00 target price (up previously from $73.00) on shares of Comerica in a research note on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.55.

Insider Transactions at Comerica

In other news, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the transaction, the insider directly owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. This trade represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares in the company, valued at $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by company insiders.

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.