Crossmark Global Holdings Inc. Has $561,000 Stock Holdings in Comerica Incorporated (NYSE:CMA)

Crossmark Global Holdings Inc. raised its stake in Comerica Incorporated (NYSE:CMA) by 50.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,366 shares of the financial services provider’s stock after purchasing an additional 3,146 shares during the period. Crossmark Global Holdings Inc.’s holdings in Comerica were worth $561,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CMA. Pitcairn Co. lifted its holdings in Comerica by 2.9% during the 1st quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Comerica by 19.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock worth $66,000 after buying an additional 199 shares during the period. Summit Securities Group LLC boosted its position in shares of Comerica by 22.4% in the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 202 shares during the period. UMB Bank n.a. grew its stake in shares of Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares in the last quarter. Finally, Centennial Wealth Advisory LLC raised its position in shares of Comerica by 5.2% in the third quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider’s stock valued at $304,000 after buying an additional 252 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Stock Down 1.7 %

CMA opened at $68.92 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day moving average is $61.89 and its 200 day moving average is $55.67. Comerica Incorporated has a fifty-two week low of $42.55 and a fifty-two week high of $71.63. The firm has a market capitalization of $9.06 billion, a P/E ratio of 17.23 and a beta of 1.22.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 12.54% and a net margin of 11.17%. During the same quarter in the prior year, the company earned $1.84 EPS. Research analysts expect that Comerica Incorporated will post 5.39 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.12%. Comerica’s dividend payout ratio (DPR) is presently 71.00%.

Comerica declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 5th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CMA. Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $50.00 to $69.00 in a report on Thursday, September 5th. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and increased their price target for the company from $52.00 to $75.00 in a research note on Tuesday, September 24th. Barclays lifted their price objective on Comerica from $56.00 to $66.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Royal Bank of Canada decreased their target price on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, Wells Fargo & Company upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $51.00 to $73.00 in a research report on Friday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.86.

Insider Buying and Selling

In related news, EVP Allysun C. Fleming sold 1,392 shares of Comerica stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at approximately $600,885.90. The trade was a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bruce Mitchell sold 7,564 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the transaction, the executive vice president now directly owns 16,428 shares in the company, valued at $1,021,821.60. This represents a 31.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,001 shares of company stock worth $1,123,650. Insiders own 0.19% of the company’s stock.

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.