Mutual of America Capital Management LLC Sells 1,573 Shares of Comerica Incorporated (NYSE:CMA)

Mutual of America Capital Management LLC lowered its position in Comerica Incorporated (NYSE:CMA) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,931 shares of the financial services provider’s stock after selling 1,573 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Comerica were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Fruth Investment Management increased its position in Comerica by 1.6% in the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock valued at $730,000 after acquiring an additional 200 shares during the period. Horizon Investments LLC increased its holdings in Comerica by 9.9% in the second quarter. Horizon Investments LLC now owns 2,458 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 221 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its position in Comerica by 4.9% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,688 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 221 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Comerica by 25.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the financial services provider’s stock worth $49,000 after buying an additional 231 shares during the period. Finally, Advisory Services Network LLC lifted its holdings in Comerica by 3.5% during the 1st quarter. Advisory Services Network LLC now owns 7,266 shares of the financial services provider’s stock worth $657,000 after buying an additional 246 shares during the period. Institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMA. Morgan Stanley raised their price objective on Comerica from $45.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Argus downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Stephens reiterated an “overweight” rating and set a $64.00 price objective on shares of Comerica in a research report on Friday. Keefe, Bruyette & Woods dropped their target price on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Finally, Barclays increased their price target on Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.02.

Comerica Trading Up 1.8 %

Shares of Comerica stock opened at $51.56 on Monday. The company has a market capitalization of $6.83 billion, a P/E ratio of 10.25 and a beta of 1.27. The stock has a fifty day simple moving average of $51.38 and a 200 day simple moving average of $49.36. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $57.39. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA) last posted its quarterly earnings data 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 firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same period in the previous year, the firm earned $2.39 EPS. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.09 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend was Thursday, March 14th. Comerica’s payout ratio is 56.46%.

Insiders Place Their Bets

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the transaction, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at $454,276.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.