Keybank National Association OH Has $356,000 Stake in Comerica Incorporated $CMA

Keybank National Association OH reduced its stake in Comerica Incorporated (NYSE:CMA) by 20.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,972 shares of the financial services provider’s stock after selling 1,542 shares during the quarter. Keybank National Association OH’s holdings in Comerica were worth $356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp boosted its holdings in Comerica by 11.2% during the first quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider’s stock worth $780,000 after purchasing an additional 1,326 shares during the last quarter. Baron Wealth Management LLC bought a new position in shares of Comerica during the 2nd quarter worth approximately $240,000. Rhino Investment Partners Inc boosted its stake in shares of Comerica by 35.4% in the 1st quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock worth $23,191,000 after buying an additional 102,647 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in shares of Comerica by 25.8% in the first quarter. Wolverine Asset Management LLC now owns 41,997 shares of the financial services provider’s stock valued at $2,480,000 after acquiring an additional 8,604 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Comerica by 13.1% during the first quarter. HighTower Advisors LLC now owns 48,407 shares of the financial services provider’s stock valued at $2,859,000 after acquiring an additional 5,596 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CMA. Weiss Ratings cut Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Truist Financial boosted their price target on shares of Comerica from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Royal Bank Of Canada raised their price objective on shares of Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Stephens reiterated an “equal weight” rating on shares of Comerica in a research note on Monday, July 21st. Finally, Piper Sandler set a $82.00 target price on shares of Comerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.55.

Insider Transactions at Comerica

In other news, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the sale, the executive vice president directly owned 9,424 shares of the company’s stock, valued at approximately $631,690.72. The trade was a 18.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James Mcgregor Carr sold 4,000 shares of the company’s stock in a transaction on Friday, August 8th. The stock was 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 disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Comerica Stock Performance

NYSE:CMA opened at $78.18 on Thursday. The business’s fifty day moving average is $73.24 and its 200 day moving average is $65.16. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 14.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $83.22.

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

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, December 15th. Comerica’s payout ratio is presently 54.20%.

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.