KBC Group NV Has $237,000 Stock Position in Comerica Incorporated (NYSE:CMA)

KBC Group NV increased its position in shares of Comerica Incorporated (NYSE:CMA) by 17.3% during the third quarter, Holdings Channel reports. The fund owned 3,955 shares of the financial services provider’s stock after acquiring an additional 582 shares during the quarter. KBC Group NV’s holdings in Comerica were worth $237,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CMA. V Square Quantitative Management LLC purchased a new position in Comerica during the 3rd quarter worth approximately $36,000. Family Firm Inc. purchased a new position in shares of Comerica during the second quarter valued at $37,000. UMB Bank n.a. raised its position in 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 buying an additional 208 shares during the period. Versant Capital Management Inc lifted 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 acquiring an additional 817 shares in the last quarter. Finally, Abich Financial Wealth Management LLC boosted 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 acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Transactions at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of Comerica stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares in the company, valued at $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Bruce Mitchell sold 7,564 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total transaction of $470,480.80. Following the completion of the transaction, the executive vice president now owns 16,428 shares of the company’s stock, valued at approximately $1,021,821.60. This represents a 31.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,001 shares of company stock worth $1,123,650. 0.19% of the stock is currently owned by company insiders.

Comerica Price Performance

NYSE CMA opened at $67.88 on Wednesday. The stock has a 50-day simple moving average of $62.35 and a 200 day simple moving average of $55.92. Comerica Incorporated has a twelve month low of $42.55 and a twelve month high of $71.63. The stock has a market capitalization of $8.93 billion, a PE ratio of 16.97 and a beta of 1.22. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. Comerica had a return on equity of 12.54% and a net margin of 11.17%. During the same period in the previous year, the company earned $1.84 earnings per share. Research analysts anticipate that Comerica Incorporated will post 5.39 EPS for the current year.

Comerica declared that its board has initiated a stock buyback program on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Comerica Dividend Announcement

The business 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 $0.71 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.84 annualized dividend and a yield of 4.18%. Comerica’s dividend payout ratio is 71.00%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CMA. Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $52.00 to $75.00 in a research report on Tuesday, September 24th. Truist Financial lifted their target price on shares of Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Bank of America cut shares of Comerica from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $55.00 to $52.00 in a report on Monday, October 7th. Morgan Stanley increased their price objective on Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $50.00 to $69.00 in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.43.

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.