HighTower Advisors LLC Has $2.86 Million Stake in Comerica Incorporated $CMA

HighTower Advisors LLC grew its position in shares of Comerica Incorporated (NYSE:CMA) by 13.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,407 shares of the financial services provider’s stock after buying an additional 5,596 shares during the quarter. HighTower Advisors LLC’s holdings in Comerica were worth $2,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of Comerica during the 1st quarter valued at about $33,000. Quarry LP raised its stake in shares of Comerica by 152.0% in the 4th quarter. Quarry LP now owns 867 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 523 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Comerica by 19.4% in the 1st quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 289 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of Comerica in the 4th quarter valued at approximately $130,000. Finally, MGO One Seven LLC bought a new position in shares of Comerica in the 4th quarter valued at approximately $200,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Price Performance

Shares of NYSE:CMA opened at $69.5740 on Friday. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $73.45. The firm has a market capitalization of $8.94 billion, a PE ratio of 13.33, a PEG ratio of 12.08 and a beta of 0.94. The business’s 50 day moving average is $63.94 and its 200-day moving average is $60.19. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.19. Comerica had a return on equity of 10.92% and a net margin of 14.92%.The company had revenue of $849.00 million for the quarter, compared to analyst estimates of $844.39 million. During the same quarter last year, the firm earned $1.49 EPS. Sell-side analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Comerica’s dividend payout ratio (DPR) is presently 54.41%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CMA. UBS Group set a $64.00 price objective on Comerica and gave the company a “neutral” rating in a research note on Monday, July 21st. Raymond James Financial reissued a “market perform” rating on shares of Comerica in a research note on Tuesday, July 8th. Truist Financial raised their price objective on Comerica from $61.00 to $68.00 and gave the company a “hold” rating in a research note on Thursday, July 24th. Jefferies Financial Group raised Comerica from an “underperform” rating to a “hold” rating and raised their target price for the company from $50.00 to $70.00 in a report on Wednesday, August 6th. Finally, DA Davidson set a $60.00 target price on Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $64.40.

Insider Activity at Comerica

In other news, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the sale, the insider owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. This trade represents a 10.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.03, for a total value of $140,763.00. Following the sale, the executive vice president directly owned 9,424 shares in the company, valued at $631,690.72. The trade was a 18.22% decrease in their position. The disclosure for this sale can be found here. 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.