LVZ Inc. Raises Position in Comerica Incorporated (NYSE:CMA)

LVZ Inc. boosted its stake in Comerica Incorporated (NYSE:CMAFree Report) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,868 shares of the financial services provider’s stock after buying an additional 590 shares during the period. LVZ Inc.’s holdings in Comerica were worth $383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CMA. First Trust Advisors LP lifted its holdings in Comerica by 1,192.2% in the first quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock worth $168,405,000 after buying an additional 3,578,355 shares during the period. Norges Bank bought a new position in shares of Comerica during the fourth quarter valued at approximately $113,763,000. BlackRock Inc. increased its stake in shares of Comerica by 9.4% during the first quarter. BlackRock Inc. now owns 13,313,998 shares of the financial services provider’s stock valued at $578,094,000 after purchasing an additional 1,145,951 shares in the last quarter. Millennium Management LLC increased its stake in shares of Comerica by 155.7% during the fourth quarter. Millennium Management LLC now owns 1,517,108 shares of the financial services provider’s stock valued at $101,419,000 after purchasing an additional 923,864 shares in the last quarter. Finally, North Reef Capital Management LP increased its stake in shares of 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 purchasing an additional 865,870 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of equities analysts have weighed in on CMA shares. Stephens reaffirmed an “overweight” rating and set a $64.00 target price on shares of Comerica in a research note on Wednesday, March 6th. DA Davidson reissued a “neutral” rating and set a $56.00 price target on shares of Comerica in a research report on Wednesday, March 6th. Barclays raised their price target on shares of Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Wells Fargo & Company raised their target price on shares of Comerica from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Thursday, December 14th. Finally, JPMorgan Chase & Co. cut shares of Comerica from an “overweight” rating to a “neutral” rating and set a $57.00 target price on the stock. in a report on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.93.

Check Out Our Latest Stock Report on Comerica

Comerica Trading Up 0.3 %

CMA stock traded up $0.14 during trading on Wednesday, reaching $53.74. 348,949 shares of the stock were exchanged, compared to its average volume of 2,158,424. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average price of $51.56 and a 200-day moving average price of $48.37. Comerica Incorporated has a 1 year low of $28.40 and a 1 year high of $57.39. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 8.32 and a beta of 1.27.

Comerica (NYSE:CMAGet Free Report) last issued its earnings results on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period in the previous year, the firm earned $2.58 earnings per share. On average, research analysts predict that Comerica Incorporated will post 5.26 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.28%. The ex-dividend date was Thursday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 44.10%.

Comerica Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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