MeadowBrook Investment Advisors LLC Purchases Shares of 4,791 Comerica Incorporated (NYSE:CMA)

MeadowBrook Investment Advisors LLC purchased a new stake in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,791 shares of the financial services provider’s stock, valued at approximately $267,000.

Other large investors have also recently made changes to their positions in the company. Spire Wealth Management increased its holdings in shares of Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 235 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Comerica in the fourth quarter worth about $36,000. Fortitude Family Office LLC purchased a new position in Comerica in the fourth quarter worth about $36,000. FNY Investment Advisers LLC purchased a new position in Comerica in the fourth quarter worth about $50,000. Finally, CVA Family Office LLC purchased a new position in Comerica in the fourth quarter worth about $56,000. 80.74% of the stock is owned by institutional investors.

Comerica Stock Up 1.6 %

Shares of CMA stock traded up $0.86 during trading hours on Monday, reaching $53.93. 1,836,764 shares of the company’s stock were exchanged, compared to its average volume of 2,072,336. The stock’s 50 day moving average is $51.69 and its 200-day moving average is $50.12. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 10.56 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a fifty-two week low of $30.98 and a fifty-two week high of $57.39.

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

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Friday, June 14th. Comerica’s payout ratio is 56.46%.

Insider Activity at Comerica

In related news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Comerica 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 sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CMA shares. Jefferies Financial Group dropped their price target on Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Royal Bank of Canada boosted their target price on Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Argus lowered Comerica from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Piper Sandler boosted their target price on Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Finally, Bank Of America (Bofa) boosted their target price on Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.89.

Comerica 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.