Sequoia Financial Advisors LLC Invests $282,000 in Comerica Incorporated (NYSE:CMA)

Sequoia Financial Advisors LLC purchased a new position in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, HoldingsChannel reports. The firm purchased 5,048 shares of the financial services provider’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. B.O.S.S. Retirement Advisors LLC lifted its holdings in Comerica by 161.7% in the fourth quarter. B.O.S.S. Retirement Advisors LLC now owns 89,061 shares of the financial services provider’s stock valued at $4,970,000 after buying an additional 55,028 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in Comerica in the fourth quarter valued at $36,000. International Assets Investment Management LLC increased its stake in Comerica by 17.4% in the fourth quarter. International Assets Investment Management LLC now owns 6,385 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 945 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Comerica in the fourth quarter valued at $212,000. Finally, Nisa Investment Advisors LLC increased its stake in Comerica by 19.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 66,771 shares of the financial services provider’s stock valued at $3,726,000 after purchasing an additional 10,786 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMA. Morgan Stanley lifted their price target on shares of Comerica from $45.00 to $54.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Evercore ISI boosted their target price on shares of Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Truist Financial boosted their target price on shares of Comerica from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Jefferies Financial Group decreased their target price on shares of Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Finally, Bank Of America (Bofa) boosted their target price on shares of Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.02.

Comerica Stock Up 1.8 %

CMA opened at $51.58 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 8.01 and a beta of 1.27. Comerica Incorporated has a twelve month low of $28.40 and a twelve month high of $57.39. The company’s 50-day moving average price is $51.38 and its two-hundred day moving average price is $49.23.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period in the prior year, the company posted $2.39 EPS. As a group, equities analysts expect that Comerica Incorporated will post 5.09 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date was Thursday, March 14th. Comerica’s payout ratio is 44.10%.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the 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 transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.