Voya Investment Management LLC Boosts Stock Position in Comerica Incorporated $CMA

Voya Investment Management LLC lifted its holdings in Comerica Incorporated (NYSE:CMA) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,553 shares of the financial services provider’s stock after purchasing an additional 451 shares during the quarter. Voya Investment Management LLC’s holdings in Comerica were worth $978,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in shares of Comerica in the first quarter valued at $33,000. Gen Wealth Partners Inc purchased a new position in Comerica during the first quarter worth $34,000. Geneos Wealth Management Inc. boosted its stake in Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after buying an additional 176 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Comerica during the first quarter worth $55,000. Finally, MAI Capital Management boosted its stake in Comerica by 32.1% during the first quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock worth $56,000 after buying an additional 229 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Comerica

In other news, insider James Mcgregor Carr sold 4,000 shares of the business’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 sale, the insider owned 33,471 shares in the company, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the business’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 sale, the executive vice president 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. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CMA. Keefe, Bruyette & Woods lifted their price objective on shares of Comerica from $69.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Jefferies Financial Group lifted their price objective on shares of Comerica from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, September 3rd. UBS Group set a $64.00 price objective on shares of Comerica and gave the stock a “neutral” rating in a research note on Monday, July 21st. Stephens reiterated an “equal weight” rating on shares of Comerica in a research report on Monday, July 21st. Finally, Cantor Fitzgerald started coverage on Comerica in a research report on Wednesday, September 10th. They set a “neutral” rating and a $72.00 target price for the company. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $64.60.

Comerica Stock Performance

CMA stock opened at $68.69 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50-day moving average price of $68.13 and a 200 day moving average price of $60.88. The company has a market capitalization of $8.83 billion, a P/E ratio of 13.16, a PEG ratio of 12.29 and a beta of 0.97. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $73.45.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. Comerica had a net margin of 14.92% and a return on equity of 10.92%. During the same period in the previous year, the company posted $1.49 earnings per share. As a group, equities research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company 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 $0.71 dividend. 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 payout ratio is currently 54.41%.

About Comerica

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.