Blue Trust Inc. Has $230,000 Stake in Comerica Incorporated (NYSE:CMA)

Blue Trust Inc. boosted its stake in shares of Comerica Incorporated (NYSE:CMA) by 34.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,840 shares of the financial services provider’s stock after purchasing an additional 978 shares during the quarter. Blue Trust Inc.’s holdings in Comerica were worth $230,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Comerica by 1.2% during the first quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider’s stock valued at $8,867,000 after acquiring an additional 1,858 shares during the period. Commonwealth Equity Services LLC boosted its stake in Comerica by 3.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider’s stock valued at $4,793,000 after purchasing an additional 2,580 shares during the period. HB Wealth Management LLC grew its holdings in Comerica by 7.5% in the 1st quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider’s stock valued at $282,000 after buying an additional 356 shares during the last quarter. Mission Wealth Management LP increased its position in Comerica by 11.3% in the 1st quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock worth $348,000 after buying an additional 644 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Comerica by 13.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock worth $3,375,000 after buying an additional 7,418 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMA. Barclays raised their price objective on shares of Comerica from $56.00 to $66.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Morgan Stanley boosted their price objective on shares of Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $69.00 in a research note on Thursday, September 5th. Finally, Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $52.00 to $75.00 in a research report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.57.

Insider Buying and Selling

In related news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total transaction of $470,480.80. Following the completion of the sale, the executive vice president now owns 16,428 shares in the company, valued at $1,021,821.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,609 shares of company stock worth $1,027,839 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Comerica Stock Down 1.9 %

Shares of CMA opened at $61.77 on Friday. The company has a market capitalization of $8.19 billion, a P/E ratio of 12.28 and a beta of 1.23. Comerica Incorporated has a one year low of $37.54 and a one year high of $66.06. The business’s 50 day simple moving average is $58.70 and its 200-day simple moving average is $54.08. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. During the same quarter in the previous year, the firm earned $1.84 earnings per share. As a group, sell-side analysts predict that Comerica Incorporated will post 5.12 EPS for the current fiscal year.

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.