HB Wealth Management LLC Reduces Position in Comerica Incorporated $CMA

HB Wealth Management LLC decreased its holdings in Comerica Incorporated (NYSE:CMA) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,373 shares of the financial services provider’s stock after selling 441 shares during the period. HB Wealth Management LLC’s holdings in Comerica were worth $380,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in Comerica by 18.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,067 shares of the financial services provider’s stock valued at $684,000 after buying an additional 1,732 shares in the last quarter. NBC Securities Inc. boosted its holdings in shares of Comerica by 139,666.7% in the first quarter. NBC Securities Inc. now owns 4,193 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 4,190 shares during the period. Gateway Investment Advisers LLC grew its position in shares of Comerica by 1.3% in the first quarter. Gateway Investment Advisers LLC now owns 27,190 shares of the financial services provider’s stock valued at $1,606,000 after purchasing an additional 344 shares in the last quarter. UMB Bank n.a. grew its position in shares of Comerica by 19.4% in the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 289 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Comerica by 24.0% during the 1st quarter. Farther Finance Advisors LLC now owns 4,798 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 929 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CMA. Morgan Stanley lifted their target price on Comerica from $61.00 to $76.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Truist Financial boosted their price objective on shares of Comerica from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Evercore ISI decreased their target price on shares of Comerica from $71.00 to $70.00 and set an “underperform” rating on the stock in a report on Tuesday, September 30th. Keefe, Bruyette & Woods raised their price target on shares of Comerica from $69.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Cantor Fitzgerald assumed coverage on shares of Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price target on the stock. Five 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.05.

Insider Activity

In other news, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the sale, the insider owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the transaction, the executive vice president owned 9,424 shares in the company, valued at $631,690.72. This represents a 18.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Comerica Trading Up 0.7%

Shares of CMA opened at $70.60 on Monday. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $73.45. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 12.64 and a beta of 0.96. The firm has a 50 day moving average price of $68.83 and a 200-day moving average price of $61.54. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96.

Comerica (NYSE:CMA) last issued 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 company had revenue of $849.00 million for the quarter, compared to analysts’ expectations of $844.39 million. Comerica had a net margin of 14.92% and a return on equity of 10.92%. During the same quarter last year, the company earned $1.49 EPS. As a group, equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

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