600 Shares in Comerica Incorporated $CMA Bought by FNY Investment Advisers LLC

FNY Investment Advisers LLC acquired a new position in Comerica Incorporated (NYSE:CMA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 600 shares of the financial services provider’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of Comerica in the first quarter worth $33,000. Gen Wealth Partners Inc purchased a new stake in shares of Comerica in the first quarter worth $34,000. Geneos Wealth Management Inc. raised its position in shares of Comerica by 41.8% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after buying an additional 176 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Comerica during the first quarter valued at about $55,000. Finally, MAI Capital Management raised its position in Comerica by 32.1% during the first quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 1.4%

CMA opened at $78.33 on Friday. The company has a market cap of $10.07 billion, a P/E ratio of 14.95 and a beta of 0.96. The business’s 50-day moving average price is $71.86 and its 200-day moving average price is $63.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $83.22.

Comerica (NYSE:CMA) last released its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. The firm had revenue of $824.00 million for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%. On average, equities analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.84 annualized dividend and a dividend yield of 3.6%. Comerica’s dividend payout ratio (DPR) is presently 54.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CMA shares. Stephens restated an “equal weight” rating on shares of Comerica in a research report on Monday, July 21st. Piper Sandler set a $82.00 price target on Comerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Evercore ISI lowered their price target on Comerica from $71.00 to $70.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 30th. DA Davidson set a $60.00 price target on Comerica and gave the company a “neutral” rating in a research report on Monday, July 21st. Finally, Royal Bank Of Canada raised their price target on Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.65.

Insider Activity

In related news, EVP Allysun C. Fleming sold 2,100 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.03, for a total value of $140,763.00. Following the sale, the executive vice president directly owned 9,424 shares of the company’s stock, valued at $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the sale, the insider directly owned 33,471 shares in the company, valued at $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

About Comerica

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.