Comerica Incorporated (NYSE:CMA) Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Comerica Incorporated (NYSE:CMA) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,108 shares of the financial services provider’s stock after selling 1,634 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Comerica were worth $397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new stake in shares of Comerica during the 4th quarter valued at about $36,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Comerica during the 3rd quarter valued at about $47,000. FNY Investment Advisers LLC acquired a new stake in shares of Comerica during the 4th quarter valued at about $50,000. CVA Family Office LLC acquired a new stake in shares of Comerica during the 4th quarter valued at about $56,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Comerica by 26.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider’s stock valued at $79,000 after buying an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Trading Down 0.1 %

Shares of CMA opened at $52.08 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $57.39. The firm has a market capitalization of $6.90 billion, a PE ratio of 10.35 and a beta of 1.27. The stock’s fifty day simple moving average is $51.54 and its 200-day simple moving average is $49.66.

Comerica (NYSE:CMA) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. During the same quarter in the prior year, the firm posted $2.39 earnings per share. As a group, research analysts predict that Comerica Incorporated will post 5.15 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.45%. The ex-dividend date is Friday, June 14th. Comerica’s payout ratio is 56.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. DA Davidson reiterated a “neutral” rating and set a $56.00 price target on shares of Comerica in a report on Wednesday, March 6th. Royal Bank of Canada boosted their target price on Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Stephens restated an “overweight” rating and issued a $64.00 target price on shares of Comerica in a report on Friday, April 19th. Barclays boosted their target price on Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Finally, Truist Financial reduced their target price on Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus target price of $56.98.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the 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 completion of the sale, the executive vice president now directly owns 8,314 shares in the company, valued at $454,276.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the 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 completion of the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at $454,276.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,921 shares of company stock valued at $630,693. 0.19% of the stock is currently owned by company insiders.

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.