Comerica Incorporated $CMA Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its stake in shares of Comerica Incorporated (NYSE:CMA) by 24.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,454 shares of the financial services provider’s stock after selling 2,674 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Comerica were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. lifted its holdings in Comerica by 139,666.7% in the 1st quarter. NBC Securities Inc. now owns 4,193 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 4,190 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in Comerica by 1.3% during the first quarter. Gateway Investment Advisers LLC now owns 27,190 shares of the financial services provider’s stock worth $1,606,000 after acquiring an additional 344 shares during the last quarter. UMB Bank n.a. grew its stake in Comerica by 19.4% during 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. Farther Finance Advisors LLC raised its holdings in Comerica by 24.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,798 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 929 shares during the last quarter. Finally, Tounjian Advisory Partners LLC acquired a new position in shares of Comerica during the 1st quarter worth approximately $595,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Stock Performance

Shares of CMA stock opened at $70.60 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $9.07 billion, a P/E ratio of 13.52, a P/E/G ratio of 12.64 and a beta of 0.96. The firm’s 50 day moving average price is $68.83 and its 200-day moving average price is $61.54. Comerica Incorporated has a one year low of $48.12 and a one year high of $73.45.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned $1.49 earnings per share. As a group, equities research analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Comerica’s dividend payout ratio is currently 54.41%.

Insider Activity at Comerica

In related news, insider James Mcgregor Carr sold 4,000 shares of Comerica 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 completion of the transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the company’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 approximately $631,690.72. This trade represents a 18.22% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial increased their price target on Comerica from $68.00 to $70.00 and gave the company a “hold” rating in a report on Friday, September 12th. DA Davidson set a $60.00 target price on Comerica and gave the stock a “neutral” rating in a research note on Monday, July 21st. Cantor Fitzgerald began coverage on Comerica in a report on Wednesday, September 10th. They set a “neutral” rating and a $72.00 price target on the stock. Evercore ISI cut their price objective on shares of Comerica from $71.00 to $70.00 and set an “underperform” rating for the company in a research report on Tuesday, September 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Comerica in a report on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $67.05.

Comerica Company 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.