Comerica Incorporated (NYSE:CMA) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its stake in shares of Comerica Incorporated (NYSE:CMA) by 97.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,755 shares of the financial services provider’s stock after selling 295,388 shares during the period. Mackenzie Financial Corp’s holdings in Comerica were worth $433,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Bison Wealth LLC boosted its stake in Comerica by 1.7% in the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after buying an additional 196 shares during the last quarter. Fruth Investment Management raised its holdings in shares of Comerica by 1.6% during the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock valued at $730,000 after buying an additional 200 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Comerica by 26.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider’s stock valued at $79,000 after buying an additional 296 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Comerica by 2.5% during the 3rd quarter. D.A. Davidson & CO. now owns 12,525 shares of the financial services provider’s stock valued at $520,000 after buying an additional 300 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Comerica by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 57,789 shares of the financial services provider’s stock valued at $2,401,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the sale, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at $454,276.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at $380,541.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,921 shares of company stock valued at $630,693. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Argus downgraded Comerica from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Truist Financial dropped their target price on Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. The Goldman Sachs Group upgraded Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price objective on the stock in a report on Thursday, January 4th. Stephens restated an “overweight” rating and set a $64.00 price objective on shares of Comerica in a report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Comerica in a report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.98.

Comerica Price Performance

Shares of CMA opened at $52.08 on Friday. The company has a market cap of $6.90 billion, a P/E ratio of 10.35 and a beta of 1.27. The stock has a fifty day moving average price of $51.54 and a 200 day moving average price of $49.66. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the prior year, the business earned $2.39 EPS. On average, research analysts forecast that Comerica Incorporated will post 5.15 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.45%. Comerica’s payout ratio is 56.46%.

Comerica Company 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.