Xponance Inc. Sells 4,014 Shares of Comerica Incorporated (NYSE:CMA)

Xponance Inc. lowered its position in Comerica Incorporated (NYSE:CMA) by 19.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,700 shares of the financial services provider’s stock after selling 4,014 shares during the quarter. Xponance Inc.’s holdings in Comerica were worth $932,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CMA. Bison Wealth LLC boosted its stake in Comerica by 1.7% in the fourth quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 196 shares in the last quarter. Fruth Investment Management raised its holdings in shares of Comerica by 1.6% in the fourth quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock valued at $730,000 after buying an additional 200 shares during the last quarter. Hartford Investment Management Co. lifted its position in Comerica by 3.1% during the 3rd quarter. Hartford Investment Management Co. now owns 9,480 shares of the financial services provider’s stock worth $394,000 after buying an additional 287 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Comerica by 26.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 296 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Comerica by 2.5% in the third quarter. D.A. Davidson & CO. now owns 12,525 shares of the financial services provider’s stock worth $520,000 after acquiring an additional 300 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 at this hyperlink. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction dated 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 of the company’s stock, valued at $454,276.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Comerica Stock Performance

Shares of CMA opened at $52.16 on Friday. The firm has a market cap of $6.91 billion, a P/E ratio of 10.37 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 has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. The firm’s 50 day moving average price is $51.51 and its two-hundred day moving average price is $49.58.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations 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 posted $2.39 EPS. On average, analysts forecast that Comerica Incorporated will post 5.15 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.44%. Comerica’s dividend payout ratio is currently 56.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CMA shares. Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Raymond James cut Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. DA Davidson reaffirmed a “neutral” rating and set a $56.00 price target on shares of Comerica in a research note on Wednesday, March 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $53.00 price objective on shares of Comerica in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price on the stock. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.89.

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.