Comerica Incorporated (NYSE:CMA) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC lifted its holdings in shares of Comerica Incorporated (NYSE:CMAFree Report) by 7.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,128 shares of the financial services provider’s stock after acquiring an additional 356 shares during the quarter. HB Wealth Management LLC’s holdings in Comerica were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CMA. SkyOak Wealth LLC boosted its holdings in Comerica by 15.8% in the 1st quarter. SkyOak Wealth LLC now owns 15,529 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 2,122 shares during the period. Commonwealth Equity Services LLC grew its holdings in Comerica by 3.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider’s stock valued at $4,793,000 after purchasing an additional 2,580 shares in the last quarter. Greenleaf Trust increased its stake in Comerica by 6.7% during the 1st quarter. Greenleaf Trust now owns 9,221 shares of the financial services provider’s stock worth $507,000 after buying an additional 577 shares during the period. Principal Financial Group Inc. lifted its holdings in Comerica by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider’s stock worth $8,867,000 after buying an additional 1,858 shares in the last quarter. Finally, Plan Group Financial LLC purchased a new position in Comerica in the 1st quarter valued at about $244,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Transactions at Comerica

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Comerica Trading Down 0.8 %

Comerica stock opened at $49.93 on Friday. Comerica Incorporated has a 52-week low of $37.40 and a 52-week high of $57.39. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 9.93 and a beta of 1.25. The firm has a 50-day moving average price of $50.48 and a two-hundred day moving average price of $51.86.

Comerica (NYSE:CMAGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the previous year, the firm posted $2.39 earnings per share. Sell-side analysts expect that Comerica Incorporated will post 5.05 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.69%. Comerica’s dividend payout ratio (DPR) is 56.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley reissued an “equal weight” rating and issued a $53.00 price target on shares of Comerica in a report on Monday, April 22nd. Piper Sandler raised their price target on shares of Comerica from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Stephens reaffirmed an “overweight” rating and issued a $64.00 price target on shares of Comerica in a report on Tuesday, June 11th. Robert W. Baird reduced their price objective on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Finally, Royal Bank of Canada dropped their target price on shares of Comerica from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Comerica has an average rating of “Hold” and an average price target of $56.04.

Get Our Latest Research Report on Comerica

Comerica Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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