Truist Financial Corp Sells 326 Shares of Comerica Incorporated $CMA

Truist Financial Corp decreased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,728 shares of the financial services provider’s stock after selling 326 shares during the period. Truist Financial Corp’s holdings in Comerica were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CMA. MorganRosel Wealth Management LLC bought a new stake in shares of Comerica during the 1st quarter valued at $33,000. Gen Wealth Partners Inc bought a new stake in shares of Comerica during the 1st quarter valued at $34,000. Geneos Wealth Management Inc. grew its position in shares of Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 176 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Comerica during the 1st quarter valued at $55,000. Finally, MAI Capital Management boosted its holdings in Comerica by 32.1% in the 1st 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. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 1.4%

Shares of NYSE CMA opened at $74.85 on Friday. The firm’s 50-day moving average price is $70.93 and its 200-day moving average price is $62.82. 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 stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 14.28 and a beta of 0.96. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $83.22.

Comerica (NYSE:CMA) last announced its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The firm had revenue of $824.00 million for the quarter. On average, equities research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, September 15th. Comerica’s dividend payout ratio is 54.41%.

Insider Transactions at Comerica

In related news, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.28, for a total value of $269,120.00. Following the sale, the insider directly owned 33,471 shares of the company’s stock, valued at $2,251,928.88. This represents a 10.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 9,424 shares in the company, valued at $631,690.72. This trade represents a 18.22% 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 research analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Cantor Fitzgerald assumed coverage on shares of Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 target price for the company. TD Cowen assumed coverage on shares of Comerica in a report on Thursday, September 25th. They issued a “hold” rating and a $75.00 target price for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Comerica in a report on Wednesday, October 8th. Finally, Morgan Stanley raised shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price for the company in a report on Tuesday, October 7th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.55.

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.