Brighton Jones LLC Takes $230,000 Position in Comerica Incorporated (NYSE:CMA)

Brighton Jones LLC purchased a new stake in shares of Comerica Incorporated (NYSE:CMA) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,118 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Comerica by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,294,605 shares of the financial services provider’s stock valued at $136,891,000 after acquiring an additional 115,446 shares in the last quarter. Invesco Ltd. increased its holdings in Comerica by 4.4% during the third quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider’s stock valued at $128,704,000 after buying an additional 130,997 shares during the period. North Reef Capital Management LP increased its holdings in Comerica by 43.0% during the third quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock valued at $119,664,000 after buying an additional 865,870 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Comerica by 129.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock valued at $107,716,000 after buying an additional 1,088,330 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Comerica by 46.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,462,906 shares of the financial services provider’s stock valued at $60,784,000 after buying an additional 461,741 shares during the period. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an “equal weight” rating and set a $53.00 price objective on shares of Comerica in a report on Monday, April 22nd. Royal Bank of Canada lifted their price objective on shares of Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price objective on the stock. Truist Financial cut their price target on shares of Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Argus lowered shares of Comerica from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.98.

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the transaction, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the transaction, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Comerica Trading Up 2.3 %

Shares of Comerica stock opened at $53.07 on Friday. The firm has a 50-day simple moving average of $51.62 and a two-hundred day simple moving average of $49.93. The company has a market cap of $7.04 billion, a P/E ratio of 10.55 and a beta of 1.27. Comerica Incorporated has a fifty-two week low of $28.40 and a fifty-two 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.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the prior year, the firm posted $2.39 earnings per share. As a group, equities analysts predict that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.35%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

About Comerica

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.