Comerica Incorporated $CMA Shares Sold by Cwm LLC

Cwm LLC lessened its position in Comerica Incorporated (NYSE:CMA) by 16.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,260 shares of the financial services provider’s stock after selling 2,615 shares during the quarter. Cwm LLC’s holdings in Comerica were worth $791,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in Comerica by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 15,390 shares of the financial services provider’s stock valued at $908,000 after buying an additional 390 shares during the period. Oppenheimer & Co. Inc. increased its stake in Comerica by 12.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 5,043 shares of the financial services provider’s stock valued at $298,000 after buying an additional 547 shares during the period. Bessemer Group Inc. increased its stake in shares of Comerica by 3.8% during the 1st quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 414 shares during the last quarter. Sylvest Advisors LLC increased its stake in shares of Comerica by 9.9% during the 1st quarter. Sylvest Advisors LLC now owns 10,913 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 981 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in shares of Comerica by 1.2% during the 1st quarter. Oakworth Capital Inc. now owns 250,709 shares of the financial services provider’s stock worth $14,807,000 after purchasing an additional 2,943 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Comerica from $52.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Wells Fargo & Company lifted their price target on shares of Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a report on Monday. Royal Bank Of Canada boosted their price target on shares of Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Comerica in a report on Wednesday, October 8th. Finally, Stephens reiterated an “equal weight” rating on shares of Comerica in a report on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Comerica currently has a consensus rating of “Hold” and an average target price of $73.65.

Comerica Trading Down 1.0%

CMA stock opened at $76.63 on Thursday. The company has a market capitalization of $9.85 billion, a PE ratio of 14.62 and a beta of 0.96. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. Comerica Incorporated has a 52 week low of $48.12 and a 52 week high of $83.22. The company’s 50-day simple moving average is $71.49 and its 200 day simple moving average is $63.25.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The firm had revenue of $824.00 million for the quarter. As a group, sell-side analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders 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 yield of 3.7%. Comerica’s dividend payout ratio (DPR) is presently 54.20%.

Insider Activity at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were 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 approximately $631,690.72. This trade represents a 18.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the transaction, the insider owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

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.