tru Independence LLC Sells 6,485 Shares of Comerica Incorporated (NYSE:CMA)

tru Independence LLC trimmed its holdings in Comerica Incorporated (NYSE:CMA) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,303 shares of the financial services provider’s stock after selling 6,485 shares during the quarter. Comerica makes up about 1.6% of tru Independence LLC’s portfolio, making the stock its 26th biggest position. tru Independence LLC’s holdings in Comerica were worth $4,967,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CMA. Pacer Advisors Inc. bought a new stake in shares of Comerica during the fourth quarter worth $1,184,000. KBC Group NV increased its stake in Comerica by 45.9% in the 4th quarter. KBC Group NV now owns 5,772 shares of the financial services provider’s stock worth $357,000 after buying an additional 1,817 shares during the period. Blue Trust Inc. lifted its holdings in Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock valued at $242,000 after buying an additional 200 shares in the last quarter. Gradient Investments LLC purchased a new stake in Comerica in the 4th quarter valued at about $311,000. Finally, Impact Partnership Wealth LLC bought a new position in Comerica in the 4th quarter worth about $370,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the transaction, the executive vice president now directly owns 8,730 shares of the company’s stock, valued at $600,885.90. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CMA shares. Royal Bank of Canada decreased their price target on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday. Evercore ISI upped their target price on Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Robert W. Baird dropped their price target on Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday. Truist Financial upgraded Comerica to a “hold” rating in a report on Monday, January 6th. Finally, DA Davidson dropped their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus target price of $68.33.

Comerica Stock Up 1.3 %

NYSE:CMA opened at $63.34 on Monday. The company’s fifty day moving average price is $65.56 and its 200-day moving average price is $61.01. The firm has a market capitalization of $8.33 billion, a P/E ratio of 12.64 and a beta of 1.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period last year, the company earned $1.46 earnings per share. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.36 EPS for the current year.

Comerica declared that its Board of Directors has approved a share buyback program on Tuesday, November 5th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.48%. Comerica’s dividend payout ratio (DPR) is 56.57%.

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.