Comerica Incorporated (NYSE:CMA) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in shares of Comerica Incorporated (NYSE:CMA) by 3.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 22,076 shares of the financial services provider’s stock after acquiring an additional 742 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Comerica were worth $1,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Family Firm Inc. purchased a new stake in Comerica during the second quarter valued at about $37,000. UMB Bank n.a. raised its holdings in shares of Comerica by 39.3% during 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 during the period. Versant Capital Management Inc boosted its stake in Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 817 shares during the period. Abich Financial Wealth Management LLC grew its position in Comerica by 50.2% during the 1st 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. Finally, Summit Securities Group LLC raised its stake in Comerica by 22.4% during the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 202 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Activity at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays decreased their target price on Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Wells Fargo & Company dropped their target price on Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a report on Wednesday, June 12th. Royal Bank of Canada decreased their price target on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Evercore ISI lowered their price objective on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Finally, Truist Financial increased their target price on shares of Comerica from $53.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy 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 $56.32.

Comerica Trading Up 0.6 %

Shares of CMA stock opened at $61.49 on Monday. Comerica Incorporated has a 12 month low of $37.40 and a 12 month high of $61.74. The company has a market cap of $8.15 billion, a PE ratio of 12.22 and a beta of 1.23. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average is $55.23 and its two-hundred day moving average is $52.67.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.19 by $0.30. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the firm posted $2.01 EPS. Equities analysts predict that Comerica Incorporated will post 5.05 EPS for the current year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.62%. Comerica’s dividend payout ratio 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.