AlphaQuest LLC Sells 13,909 Shares of Comerica Incorporated $CMA

AlphaQuest LLC trimmed its position in Comerica Incorporated (NYSE:CMA) by 81.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,075 shares of the financial services provider’s stock after selling 13,909 shares during the period. AlphaQuest LLC’s holdings in Comerica were worth $211,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. bought a new position in Comerica in the 3rd quarter valued at approximately $1,160,000. Gateway Investment Advisers LLC increased its position in Comerica by 87.6% in the 3rd quarter. Gateway Investment Advisers LLC now owns 50,686 shares of the financial services provider’s stock valued at $3,473,000 after acquiring an additional 23,675 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Comerica by 37.5% during the third quarter. Nisa Investment Advisors LLC now owns 69,132 shares of the financial services provider’s stock valued at $4,792,000 after acquiring an additional 18,864 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Comerica by 466.2% during the third quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock worth $499,615,000 after purchasing an additional 6,003,703 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Comerica by 23.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 72,587 shares of the financial services provider’s stock worth $4,974,000 after purchasing an additional 13,558 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Buying and Selling

In other Comerica news, insider James Mcgregor Carr sold 10,000 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $98.06, for a total value of $980,600.00. Following the completion of the sale, the insider owned 23,959 shares in the company, valued at approximately $2,349,419.54. This trade represents a 29.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James Harry Weber sold 8,798 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $98.04, for a total value of $862,555.92. Following the completion of the transaction, the executive vice president owned 20,543 shares in the company, valued at $2,014,035.72. The trade was a 29.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 27,662 shares of company stock worth $2,680,538. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on CMA. Evercore set a $89.00 target price on Comerica in a report on Tuesday, January 6th. TD Cowen reaffirmed a “hold” rating on shares of Comerica in a research note on Wednesday, January 7th. Citigroup boosted their price target on Comerica from $82.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, December 30th. Wells Fargo & Company raised their price objective on shares of Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Comerica in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.56.

Comerica Stock Down 2.0%

Shares of NYSE:CMA opened at $90.98 on Wednesday. The business’s 50 day moving average is $89.92 and its 200 day moving average is $78.99. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $99.41. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 17.20 and a beta of 1.04. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.74.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.18. Comerica had a net margin of 15.07% and a return on equity of 10.74%. The firm had revenue of $850.00 million for the quarter, compared to the consensus estimate of $851.32 million. During the same period in the previous year, the firm earned $1.20 EPS. On average, sell-side analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

About Comerica

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.