Comerica Incorporated (NYSE:CMA) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its stake in shares of Comerica Incorporated (NYSE:CMA) by 19.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,887,675 shares of the financial services provider’s stock after selling 460,075 shares during the quarter. Alliancebernstein L.P.’s holdings in Comerica were worth $151,958,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. WINTON GROUP Ltd increased its stake in shares of Comerica by 101.4% in the second quarter. WINTON GROUP Ltd now owns 7,134 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 3,592 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Comerica by 20.8% in the second quarter. Rockefeller Capital Management L.P. now owns 22,589 shares of the financial services provider’s stock worth $1,610,000 after acquiring an additional 3,883 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Comerica by 7.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,777 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 393 shares during the period. Cibc World Markets Corp increased its stake in shares of Comerica by 87.2% in the second quarter. Cibc World Markets Corp now owns 74,666 shares of the financial services provider’s stock worth $5,327,000 after acquiring an additional 34,771 shares during the period. Finally, Greenleaf Trust increased its stake in shares of Comerica by 1.3% in the second quarter. Greenleaf Trust now owns 10,529 shares of the financial services provider’s stock worth $751,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 79.32% of the company’s stock.

In related news, Director Ximena G. Humrichouse sold 728 shares of the firm’s stock in a transaction dated Friday, October 22nd. The shares were sold at an average price of $88.40, for a total transaction of $64,355.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John D. Buchanan sold 5,688 shares of the firm’s stock in a transaction dated Thursday, October 28th. The stock was sold at an average price of $85.11, for a total transaction of $484,105.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,066 shares of company stock valued at $1,588,810. 0.67% of the stock is owned by company insiders.

CMA has been the topic of a number of research reports. Citigroup increased their price objective on shares of Comerica from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 16th. Truist Securities raised their price target on shares of Comerica from $83.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 21st. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating and set a $104.00 price target on the stock. in a research report on Friday, January 7th. Compass Point upgraded shares of Comerica from a “sell” rating to a “neutral” rating and set a $87.00 price target on the stock in a research report on Tuesday, December 21st. Finally, Robert W. Baird lowered shares of Comerica from a “neutral” rating to an “underperform” rating and set a $78.00 price target on the stock. in a research report on Friday, January 7th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $92.19.

NYSE:CMA opened at $101.24 on Friday. The company’s 50-day moving average price is $88.19 and its 200-day moving average price is $80.00. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.38. The company has a market cap of $13.28 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.54 and a beta of 1.48. Comerica Incorporated has a twelve month low of $55.87 and a twelve month high of $101.38.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, October 19th. The financial services provider reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.26. The firm had revenue of $755.00 million for the quarter, compared to the consensus estimate of $733.42 million. Comerica had a net margin of 38.31% and a return on equity of 15.22%. During the same period last year, the firm posted $1.44 earnings per share. On average, analysts expect that Comerica Incorporated will post 8.28 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, January 1st. Investors of record on Wednesday, December 15th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.69%. Comerica’s payout ratio is currently 33.42%.

Comerica Profile

Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment is involved in middle market businesses, multinational corporations, and governmental entities by offering various products and services such as 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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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