Forum Financial Management LP Has $488,000 Stock Holdings in Comerica Incorporated $CMA

Forum Financial Management LP raised its stake in Comerica Incorporated (NYSE:CMA) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,176 shares of the financial services provider’s stock after buying an additional 618 shares during the period. Forum Financial Management LP’s holdings in Comerica were worth $488,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMA. Primecap Management Co. CA grew its stake in shares of Comerica by 228.8% during the first quarter. Primecap Management Co. CA now owns 1,670,110 shares of the financial services provider’s stock worth $98,637,000 after buying an additional 1,162,110 shares during the last quarter. Azora Capital LP grew its stake in shares of Comerica by 53.7% during the first quarter. Azora Capital LP now owns 1,899,198 shares of the financial services provider’s stock worth $112,167,000 after buying an additional 663,513 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of Comerica during the first quarter worth $32,864,000. Dimensional Fund Advisors LP grew its stake in shares of Comerica by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock worth $325,308,000 after buying an additional 472,409 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Comerica by 48.7% during the first quarter. Invesco Ltd. now owns 1,183,213 shares of the financial services provider’s stock worth $69,881,000 after buying an additional 387,527 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Insiders Place Their Bets

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

Comerica Price Performance

Shares of NYSE CMA opened at $78.33 on Friday. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $83.22. The firm has a fifty day simple moving average of $71.86 and a 200 day simple moving average of $63.63. The company has a market capitalization of $10.07 billion, a PE ratio of 14.95 and a beta of 0.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

Comerica (NYSE:CMA) last announced its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The business had revenue of $824.00 million during the quarter. On average, sell-side analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on CMA. JPMorgan Chase & Co. boosted their target price on shares of Comerica from $52.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. Piper Sandler set a $82.00 price target on shares of Comerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Cowen initiated coverage on shares of Comerica in a report on Wednesday, September 24th. They set a “hold” rating on the stock. Weiss Ratings lowered shares of Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Finally, UBS Group set a $64.00 price target on shares of Comerica and gave the stock a “neutral” rating in a report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.65.

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.