Comerica Incorporated (NYSE:CMA) Shares Acquired by Pathstone Holdings LLC

Pathstone Holdings LLC raised its holdings in shares of Comerica Incorporated (NYSE:CMA) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,009 shares of the financial services provider’s stock after purchasing an additional 4,282 shares during the quarter. Pathstone Holdings LLC owned 0.08% of Comerica worth $6,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMA. OLD National Bancorp IN grew its position in shares of Comerica by 4.9% during the second quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock worth $12,130,000 after buying an additional 11,049 shares in the last quarter. SG Americas Securities LLC grew its holdings in Comerica by 66.2% during the 2nd quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock worth $3,209,000 after acquiring an additional 25,040 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Comerica by 39.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock worth $11,262,000 after purchasing an additional 62,269 shares during the last quarter. Point72 Europe London LLP acquired a new stake in shares of Comerica in the 2nd quarter valued at about $4,767,000. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of Comerica by 1.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after purchasing an additional 19,068 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CMA shares. Robert W. Baird upped their price objective on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Barclays raised 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. Bank of America lowered shares of Comerica from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $55.00 to $52.00 in a research note on Monday, October 7th. Morgan Stanley raised their price target on shares of Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $75.00 in a report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.43.

Insider Activity

In related news, EVP Allysun C. Fleming sold 1,392 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the completion of the sale, the executive vice president now directly owns 8,730 shares in the company, valued at approximately $600,885.90. This trade represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 completion of 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. In the last ninety days, insiders have sold 15,456 shares of company stock worth $977,287. 0.19% of the stock is owned by company insiders.

Comerica Price Performance

Shares of NYSE CMA opened at $71.10 on Friday. The stock has a market cap of $9.35 billion, a P/E ratio of 17.78 and a beta of 1.22. The firm’s 50-day simple moving average is $63.10 and its 200 day simple moving average is $56.22. Comerica Incorporated has a fifty-two week low of $42.55 and a fifty-two week high of $71.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.97.

Comerica (NYSE:CMA) last released its quarterly earnings results 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. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same period in the previous year, the firm earned $1.84 EPS. Equities analysts expect that Comerica Incorporated will post 5.37 EPS for the current year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Friday, December 13th. Comerica’s payout ratio is currently 71.00%.

Comerica declared that its board has authorized a share buyback plan on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.