Xponance Inc. Cuts Stake in Comerica Incorporated (NYSE:CMA)

Xponance Inc. decreased its position in Comerica Incorporated (NYSE:CMA) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,700 shares of the financial services provider’s stock after selling 4,014 shares during the period. Xponance Inc.’s holdings in Comerica were worth $932,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bison Wealth LLC boosted its holdings in Comerica by 1.7% in the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock valued at $650,000 after purchasing an additional 196 shares in the last quarter. Fruth Investment Management grew its holdings in Comerica by 1.6% during the fourth quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock worth $730,000 after acquiring an additional 200 shares during the period. Hartford Investment Management Co. raised its position in Comerica by 3.1% in the third quarter. Hartford Investment Management Co. now owns 9,480 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 287 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Comerica by 26.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 296 shares during the period. Finally, D.A. Davidson & CO. boosted its position 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 worth $520,000 after purchasing an additional 300 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMA. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a report on Wednesday, April 10th. They issued a “hold” rating and a $59.00 price target for the company. Piper Sandler lifted their price target on shares of Comerica from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Evercore ISI upped their price target on Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. The Goldman Sachs Group raised Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price objective for the company in a report on Thursday, January 4th. Finally, Argus lowered Comerica from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus price target of $56.89.

Insiders Place Their Bets

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction dated 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 owns 8,314 shares in the company, valued at approximately $454,276.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Comerica Trading Down 1.5 %

NYSE CMA opened at $52.16 on Friday. The company has a market cap of $6.91 billion, a P/E ratio of 10.37 and a beta of 1.27. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The company has a 50-day moving average of $51.51 and a 200-day moving average of $49.58.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same quarter last year, the firm posted $2.39 earnings per share. As a group, equities analysts predict that Comerica Incorporated will post 5.15 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

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.