Handelsbanken Fonder AB Purchases 25,100 Shares of Comerica Incorporated $CMA

Handelsbanken Fonder AB boosted its position in Comerica Incorporated (NYSE:CMA) by 99.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,400 shares of the financial services provider’s stock after purchasing an additional 25,100 shares during the period. Handelsbanken Fonder AB’s holdings in Comerica were worth $3,453,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of Comerica by 466.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock worth $499,615,000 after acquiring an additional 6,003,703 shares during the last quarter. Norges Bank purchased a new position in Comerica in the 2nd quarter worth $97,138,000. Primecap Management Co. CA lifted its stake in Comerica by 55.3% in the second quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock worth $154,720,000 after purchasing an additional 923,690 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Comerica in the second quarter worth $31,365,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Comerica during the second quarter valued at about $12,477,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Price Performance

CMA opened at $90.98 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market capitalization of $11.63 billion, a PE ratio of 17.20 and a beta of 1.04. The stock’s 50 day moving average price is $91.13 and its 200-day moving average price is $81.45. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $99.41.

Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.18. The business had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $851.32 million. Comerica had a net margin of 15.07% and a return on equity of 10.74%. During the same quarter in the previous year, the business posted $1.20 earnings per share. On average, equities research analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Insider Transactions at Comerica

In other news, EVP James Harry Weber sold 8,798 shares of Comerica stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $98.04, for a total transaction of $862,555.92. Following the sale, the executive vice president owned 20,543 shares of the company’s stock, valued at approximately $2,014,035.72. The trade was a 29.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Allysun C. Fleming sold 8,864 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $94.47, for a total transaction of $837,382.08. Following the transaction, the executive vice president owned 4,785 shares in the company, valued at $452,038.95. This represents a 64.94% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 27,662 shares of company stock valued at $2,680,538. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

CMA has been the subject of a number of recent research reports. UBS Group raised Comerica from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research note on Tuesday, January 6th. Citigroup lifted their price target on Comerica from $82.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 30th. Evercore set a $89.00 price objective on Comerica in a research note on Tuesday, January 6th. TD Cowen restated a “hold” rating on shares of Comerica in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Comerica in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.56.

Comerica Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.