Signaturefd LLC Buys 289 Shares of Comerica Incorporated $CMA

Signaturefd LLC boosted its position in shares of Comerica Incorporated (NYSE:CMA) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,180 shares of the financial services provider’s stock after buying an additional 289 shares during the quarter. Signaturefd LLC’s holdings in Comerica were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in Comerica during the 1st quarter valued at about $33,000. Gen Wealth Partners Inc purchased a new position in shares of Comerica during the first quarter valued at approximately $34,000. Geneos Wealth Management Inc. grew its stake in shares of Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after buying an additional 176 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Comerica in the first quarter worth approximately $55,000. Finally, MAI Capital Management lifted its stake in shares of Comerica by 32.1% during the 1st quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Buying and Selling

In other Comerica news, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares of the company’s stock, valued at approximately $631,690.72. The trade was a 18.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Mcgregor Carr sold 4,000 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total value of $269,120.00. Following the transaction, the insider directly 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 disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Stephens reaffirmed an “equal weight” rating on shares of Comerica in a research report on Monday, July 21st. Raymond James Financial restated a “market perform” rating on shares of Comerica in a report on Tuesday, July 8th. DA Davidson set a $60.00 price target on shares of Comerica and gave the stock a “neutral” rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods upped their target price 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. Finally, Cowen started coverage on shares of Comerica in a research note on Wednesday, September 24th. They set a “hold” rating for the company. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Comerica presently has a consensus rating of “Reduce” and an average target price of $67.05.

Comerica Trading Up 1.6%

CMA opened at $70.17 on Friday. 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 firm has a market cap of $9.02 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 12.38 and a beta of 0.96. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $73.45. The stock has a fifty day moving average price of $68.78 and a 200-day moving average price of $61.43.

Comerica (NYSE:CMA) last posted its 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. The company had revenue of $849.00 million for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.49 earnings per share. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a yield of 4.0%. Comerica’s dividend payout ratio is presently 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.