Baird Financial Group Inc. Buys 1,498 Shares of Comerica Incorporated $CMA

Baird Financial Group Inc. raised its stake in Comerica Incorporated (NYSE:CMA) by 16.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,812 shares of the financial services provider’s stock after acquiring an additional 1,498 shares during the period. Baird Financial Group Inc.’s holdings in Comerica were worth $639,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in Comerica in the first quarter valued at $33,000. Gen Wealth Partners Inc bought a new stake in Comerica in the first quarter valued at $34,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Comerica in the first quarter valued at $55,000. UMB Bank n.a. grew its holdings in shares of Comerica by 19.4% during the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 289 shares during the last quarter. Finally, Point72 Europe London LLP bought a new stake in shares of Comerica during the fourth quarter worth $130,000. 80.74% of the stock is currently owned by institutional investors.

Comerica Price Performance

Comerica stock opened at $69.21 on Thursday. The business’s 50-day simple moving average is $67.03 and its 200 day simple moving average is $60.43. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 12.46 and a beta of 0.97. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $73.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating 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 business had revenue of $849.00 million for the quarter, compared to analysts’ expectations of $844.39 million. During the same quarter last year, the business earned $1.49 earnings per share. As a group, research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

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

Insider Transactions at Comerica

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the transaction, the insider owned 33,471 shares in the company, valued at approximately $2,251,928.88. This trade represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allysun C. Fleming sold 2,100 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president owned 9,424 shares in the company, valued at approximately $631,690.72. This trade represents 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.

Analyst Ratings Changes

CMA has been the topic of several research analyst reports. Stephens restated an “equal weight” rating on shares of Comerica in a report on Monday, July 21st. Jefferies Financial Group increased their target price on Comerica from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, September 3rd. DA Davidson set a $60.00 target price on Comerica and gave the stock a “neutral” rating in a report on Monday, July 21st. UBS Group set a $64.00 target price on Comerica and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Keefe, Bruyette & Woods increased their target price on Comerica from $69.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Comerica currently has a consensus rating of “Hold” and a consensus target price of $65.00.

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.