Bleakley Financial Group LLC Takes $212,000 Position in Comerica Incorporated (NYSE:CMA)

Bleakley Financial Group LLC bought a new stake in Comerica Incorporated (NYSE:CMA) in the 4th quarter, Holdings Channel reports. The fund bought 3,806 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also made changes to their positions in CMA. Chilton Capital Management LLC purchased a new position in shares of Comerica in the first quarter valued at $28,000. Fortitude Family Office LLC acquired a new stake in Comerica in the fourth quarter valued at $36,000. Almanack Investment Partners LLC. acquired a new stake in Comerica in the third quarter valued at $38,000. Authentikos Wealth Advisory LLC acquired a new stake in Comerica in the third quarter valued at $47,000. Finally, Parkside Financial Bank & Trust raised its holdings in Comerica by 25.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 231 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Comerica

In related news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following 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 insiders.

Comerica Stock Down 1.7 %

CMA stock opened at $50.00 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. Comerica Incorporated has a fifty-two week low of $28.40 and a fifty-two week high of $57.39. The firm’s 50-day simple moving average is $51.39 and its 200 day simple moving average is $49.13. The stock has a market cap of $6.62 billion, a PE ratio of 7.76 and a beta of 1.27.

Comerica (NYSE:CMA) last announced its earnings results on Friday, January 19th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same quarter in the prior year, the firm posted $2.58 EPS. As a group, sell-side analysts predict that Comerica Incorporated will post 5.09 EPS for the current year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.71 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.68%. Comerica’s dividend payout ratio is presently 44.10%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CMA shares. UBS Group reaffirmed a “neutral” rating and issued a $59.00 price target (down from $66.00) on shares of Comerica in a report on Thursday, April 4th. Stephens reaffirmed an “overweight” rating and issued a $64.00 price target on shares of Comerica in a report on Wednesday, March 6th. TheStreet raised shares of Comerica from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Comerica in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group raised shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price on the stock in a report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.67.

About Comerica

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.