3,371 Shares in Comerica Incorporated (NYSE:CMA) Bought by Caprock Group LLC

Caprock Group LLC bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the third quarter, HoldingsChannel.com reports. The firm bought 3,371 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMA. V Square Quantitative Management LLC bought a new stake in shares of Comerica during the 3rd quarter valued at $36,000. Family Firm Inc. purchased a new position in shares of Comerica in the second quarter valued at about $37,000. UMB Bank n.a. lifted its position in shares of Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC grew its position in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Insider Buying and Selling at Comerica

In other news, EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the transaction, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. The trade was a 13.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Bruce Mitchell sold 7,564 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total value of $470,480.80. Following the sale, the executive vice president now directly owns 16,428 shares in the company, valued at approximately $1,021,821.60. This trade represents a 31.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,456 shares of company stock worth $977,287. Company insiders own 0.19% of the company’s stock.

Comerica Trading Up 3.2 %

NYSE:CMA opened at $71.09 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $63.10 and a 200-day simple moving average of $56.25. Comerica Incorporated has a 12 month low of $42.55 and a 12 month high of $71.63. The company has a market capitalization of $9.35 billion, a P/E ratio of 17.77 and a beta of 1.22.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.16. Comerica had a return on equity of 12.54% and a net margin of 11.17%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. During the same quarter in the previous year, the business earned $1.84 EPS. On average, equities research analysts anticipate that Comerica Incorporated will post 5.37 earnings per share for the current year.

Comerica announced that its board has approved a stock buyback plan on Tuesday, November 5th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given 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 of this dividend is Friday, December 13th. Comerica’s dividend payout ratio is presently 71.00%.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised shares of Comerica from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $69.00 in a report on Thursday, September 5th. DA Davidson lifted their price target on shares of Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, October 21st. The Goldman Sachs Group increased their price objective on shares of Comerica from $63.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Truist Financial lifted their target price on Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Comerica presently has an average rating of “Hold” and a consensus price target of $64.43.

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.