Mercer Global Advisors Inc. ADV Buys 749 Shares of Comerica Incorporated (NYSE:CMA)

Mercer Global Advisors Inc. ADV increased its stake in shares of Comerica Incorporated (NYSE:CMA) by 11.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,079 shares of the financial services provider’s stock after buying an additional 749 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Comerica were worth $361,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in Comerica by 105.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 3,595,036 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after purchasing an additional 1,370,886 shares during the last quarter. Azora Capital LP purchased a new position in Comerica in the fourth quarter worth $63,548,000. Goldman Sachs Group Inc. boosted its position in Comerica by 51.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after purchasing an additional 870,812 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Comerica by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after purchasing an additional 676,959 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada dropped their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Wells Fargo & Company dropped their price target on Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 12th. DA Davidson reaffirmed a “neutral” rating and set a $55.00 price target on shares of Comerica in a research report on Tuesday, September 10th. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and upped their price target for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group dropped their price objective on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Comerica has a consensus rating of “Hold” and an average target price of $58.24.

Insider Activity at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Comerica Trading Down 0.2 %

NYSE CMA opened at $59.38 on Monday. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $61.84. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50 day simple moving average of $55.64 and a two-hundred day simple moving average of $52.93. The stock has a market cap of $7.87 billion, a P/E ratio of 11.81 and a beta of 1.23.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. During the same quarter last year, the business posted $2.01 EPS. On average, analysts forecast that Comerica Incorporated will post 5.06 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

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.