Comerica Incorporated (NYSE:CMA) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of Comerica Incorporated (NYSE:CMAFree Report) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,201 shares of the financial services provider’s stock after selling 2,346 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Comerica were worth $2,543,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMA. Deseret Mutual Benefit Administrators raised its holdings in shares of Comerica by 42.8% during the second quarter. Deseret Mutual Benefit Administrators now owns 664 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 199 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Comerica by 40.0% during the second quarter. Geneos Wealth Management Inc. now owns 700 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Comerica by 0.3% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 69,064 shares of the financial services provider’s stock worth $2,926,000 after acquiring an additional 205 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Comerica by 4.9% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,688 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 221 shares in the last quarter. Finally, Horizon Investments LLC raised its holdings in Comerica by 9.9% during the second quarter. Horizon Investments LLC now owns 2,458 shares of the financial services provider’s stock valued at $104,000 after buying an additional 221 shares in the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.

Insider Activity

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now directly owns 8,314 shares in the company, valued at approximately $454,276.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.76% of the company’s stock.

Comerica Stock Up 0.5 %

CMA stock opened at $51.35 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The business’s 50-day simple moving average is $53.52 and its 200 day simple moving average is $47.73. The company has a market cap of $6.77 billion, a PE ratio of 7.97 and a beta of 1.29. Comerica Incorporated has a twelve month low of $28.40 and a twelve month high of $76.16.

Comerica (NYSE:CMAGet Free Report) last released its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.08. Comerica had a return on equity of 19.41% and a net margin of 16.71%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $826.07 million. During the same period in the prior year, the company posted $2.58 EPS. On average, research analysts anticipate that Comerica Incorporated will post 5.36 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on CMA. Truist Financial cut their target price on Comerica from $49.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, October 23rd. Wells Fargo & Company raised their target price on Comerica from $45.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, December 14th. DA Davidson raised their target price on Comerica from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 5th. Barclays raised their target price on Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Finally, Raymond James downgraded Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.98.

View Our Latest Stock Report on Comerica

About Comerica

(Free Report)

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, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities.

See Also

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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