Amalgamated Bank Sells 2,595 Shares of Comerica Incorporated (NYSE:CMA)

Amalgamated Bank lowered its stake in shares of Comerica Incorporated (NYSE:CMAGet Rating) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,072 shares of the financial services provider’s stock after selling 2,595 shares during the period. Amalgamated Bank’s holdings in Comerica were worth $3,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC raised its position in shares of Comerica by 292.3% during the first quarter. Quent Capital LLC now owns 306 shares of the financial services provider’s stock valued at $28,000 after buying an additional 228 shares during the last quarter. Tcwp LLC bought a new stake in shares of Comerica during the first quarter valued at approximately $30,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Comerica during the first quarter valued at approximately $31,000. Rather & Kittrell Inc. bought a new stake in shares of Comerica during the fourth quarter valued at approximately $42,000. Finally, Herold Advisors Inc. purchased a new position in shares of Comerica in the first quarter valued at $50,000. Institutional investors own 82.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMA. Wedbush raised their target price on shares of Comerica from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, July 21st. Wells Fargo & Company cut their target price on shares of Comerica from $82.00 to $77.00 and set an “underweight” rating for the company in a report on Friday, July 1st. Citigroup raised their target price on shares of Comerica to $95.00 in a report on Friday, July 22nd. JPMorgan Chase & Co. cut their target price on shares of Comerica from $108.00 to $97.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Finally, Wolfe Research cut their target price on shares of Comerica from $124.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.95.

Comerica Stock Down 1.4 %

Shares of CMA opened at $77.75 on Thursday. The firm has a market capitalization of $10.17 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.26 and a beta of 1.27. Comerica Incorporated has a 12-month low of $70.71 and a 12-month high of $102.09. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $80.41 and a 200-day moving average price of $81.85.

Comerica (NYSE:CMAGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.15. Comerica had a return on equity of 13.63% and a net margin of 30.42%. During the same period in the prior year, the company earned $2.32 earnings per share. Equities research analysts expect that Comerica Incorporated will post 8.47 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Thursday, September 15th will be issued a $0.68 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $2.72 annualized dividend and a dividend yield of 3.50%. Comerica’s payout ratio is currently 39.71%.

Insider Activity at Comerica

In related news, EVP Peter L. Sefzik sold 7,287 shares of Comerica stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $83.78, for a total value of $610,504.86. Following the completion of the sale, the executive vice president now directly owns 32,007 shares in the company, valued at $2,681,546.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Comerica Company Profile

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Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.

Further Reading

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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