Comerica Incorporated (NYSE:CMA) Holdings Cut by Greenleaf Trust

Greenleaf Trust trimmed its stake in shares of Comerica Incorporated (NYSE:CMA) by 12.0% during the fourth quarter, Holdings Channel reports. The firm owned 8,644 shares of the financial services provider’s stock after selling 1,181 shares during the period. Greenleaf Trust’s holdings in Comerica were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CMA. Raymond James & Associates grew its stake in Comerica by 18.1% during the 4th quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider’s stock worth $11,348,000 after buying an additional 31,125 shares during the last quarter. NewEdge Wealth LLC acquired a new stake in shares of Comerica in the fourth quarter valued at approximately $10,068,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Comerica by 73.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,771 shares of the financial services provider’s stock valued at $3,168,000 after purchasing an additional 23,947 shares during the period. LSV Asset Management increased its stake in shares of Comerica by 3.5% in the third quarter. LSV Asset Management now owns 678,976 shares of the financial services provider’s stock valued at $28,211,000 after purchasing an additional 22,800 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of Comerica by 607.3% in the third quarter. Mackenzie Financial Corp now owns 303,143 shares of the financial services provider’s stock valued at $12,007,000 after purchasing an additional 260,286 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on CMA. Argus lowered shares of Comerica from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Piper Sandler raised their price target on shares of Comerica from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday. Stephens reiterated an “overweight” rating and set a $64.00 price objective on shares of Comerica in a research note on Friday. Truist Financial lowered their price objective on shares of Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays raised their price objective on shares of Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Comerica presently has a consensus rating of “Hold” and an average target price of $56.89.

Insider Buying and Selling

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Comerica Trading Up 2.0 %

Comerica stock opened at $52.59 on Tuesday. The company has a 50 day moving average price of $51.38 and a 200 day moving average price of $49.45. Comerica Incorporated has a 52 week low of $28.40 and a 52 week high of $57.39. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 10.46 and a beta of 1.27.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. During the same quarter last year, the business posted $2.39 EPS. Research analysts forecast that Comerica Incorporated will post 5.09 EPS for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.40%. Comerica’s dividend payout ratio is 56.46%.

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.