Comerica Incorporated (NYSE:CMA) Shares Bought by Algert Global LLC

Algert Global LLC lifted its holdings in shares of Comerica Incorporated (NYSE:CMA) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 79,306 shares of the financial services provider’s stock after acquiring an additional 2,000 shares during the period. Algert Global LLC’s holdings in Comerica were worth $4,751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in Comerica during the third quarter worth about $36,000. Family Firm Inc. purchased a new position in shares of Comerica during the 2nd quarter worth about $37,000. UMB Bank n.a. boosted its position in shares of Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 208 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 817 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Transactions at Comerica

In related news, EVP Allysun C. Fleming sold 1,392 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. This represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Harry Weber sold 6,500 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $63.23, for a total transaction of $410,995.00. Following the completion of the transaction, the executive vice president now owns 15,773 shares of the company’s stock, valued at $997,326.79. This represents a 29.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,456 shares of company stock worth $977,287. Company insiders own 0.19% of the company’s stock.

Comerica Stock Performance

Shares of NYSE CMA opened at $71.09 on Monday. The stock has a market capitalization of $9.35 billion, a P/E ratio of 17.77 and a beta of 1.22. The firm’s 50-day moving average price is $63.10 and its two-hundred day moving average price is $56.25. Comerica Incorporated has a 52-week low of $42.55 and a 52-week high of $71.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.97.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 12.54% and a net margin of 11.17%. During the same period in the prior year, the business earned $1.84 EPS. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.37 earnings per share for the current year.

Comerica declared that its board has initiated a stock repurchase plan on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.99%. Comerica’s dividend payout ratio (DPR) is presently 71.00%.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of research analyst reports. Truist Financial lifted their price target on shares of Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday, October 21st. Bank of America downgraded Comerica from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $55.00 to $52.00 in a research report on Monday, October 7th. DA Davidson raised their price objective on Comerica from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Robert W. Baird increased their target price on shares of Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.43.

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.