Public Employees Retirement System of Ohio Sells 302 Shares of Comerica Incorporated $CMA

Public Employees Retirement System of Ohio trimmed its stake in Comerica Incorporated (NYSE:CMA) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,562 shares of the financial services provider’s stock after selling 302 shares during the period. Public Employees Retirement System of Ohio’s holdings in Comerica were worth $2,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CMA. MorganRosel Wealth Management LLC purchased a new stake in Comerica in the first quarter worth approximately $33,000. Gen Wealth Partners Inc purchased a new stake in Comerica in the first quarter worth approximately $34,000. Geneos Wealth Management Inc. boosted its stake in Comerica by 41.8% in 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Comerica in the first quarter worth approximately $55,000. Finally, MAI Capital Management boosted its stake in Comerica by 32.1% in 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 in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Buying and Selling at Comerica

In related news, EVP Allysun C. Fleming sold 2,100 shares of Comerica 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 completion of the sale, the executive vice president directly owned 9,424 shares in the company, valued at approximately $631,690.72. This trade represents a 18.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the sale, the insider owned 33,471 shares of the company’s stock, valued at $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CMA. Cantor Fitzgerald initiated coverage on Comerica in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 target price for the company. Stephens reiterated an “equal weight” rating on shares of Comerica in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on Comerica from $52.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. Jefferies Financial Group raised their price target on Comerica from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, September 3rd. Finally, Morgan Stanley raised their price target on Comerica from $61.00 to $76.00 and gave the stock an “underweight” rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $67.05.

Comerica Price Performance

CMA opened at $69.15 on Thursday. The stock has a fifty day simple moving average of $68.73 and a two-hundred day simple moving average of $61.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 12.27 and a beta of 0.96. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $73.45.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share (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 return on equity of 10.92% and a net margin of 14.92%.During the same quarter in the prior year, the company earned $1.49 earnings per share. Research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

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

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.