Comerica Incorporated (NYSE:CMA) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Comerica Incorporated (NYSE:CMA) by 12.6% during the third quarter, Holdings Channel reports. The firm owned 80,847 shares of the financial services provider’s stock after acquiring an additional 9,052 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Comerica were worth $4,801,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in Comerica in the third quarter worth about $36,000. Family Firm Inc. bought a new stake in shares of Comerica in the 2nd quarter worth approximately $37,000. UMB Bank n.a. boosted its position in Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 208 shares during the period. Versant Capital Management Inc grew its stake in Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after buying an additional 817 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in Comerica by 50.2% in the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after buying an additional 300 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the sale, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Bruce Mitchell sold 7,564 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the completion of the transaction, the executive vice president now owns 16,428 shares in the company, valued at $1,021,821.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,609 shares of company stock valued at $1,027,839 in the last three months. 0.19% of the stock is currently owned by company insiders.

Comerica Trading Up 1.4 %

Shares of CMA opened at $62.65 on Tuesday. The business’s 50-day moving average price is $58.82 and its 200 day moving average price is $54.17. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $8.31 billion, a P/E ratio of 12.46 and a beta of 1.23. Comerica Incorporated has a 1-year low of $37.92 and a 1-year high of $66.06.

Comerica (NYSE:CMA) last released its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period last year, the firm posted $1.84 earnings per share. Analysts expect that Comerica Incorporated will post 5.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Truist Financial upped their target price on shares of Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Piper Sandler lifted their price target on Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $52.00 to $75.00 in a report on Tuesday, September 24th. Finally, Bank of America downgraded Comerica from a “neutral” rating to an “underperform” rating and cut their target price for the company from $55.00 to $52.00 in a research note on Monday, October 7th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.57.

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.