Comerica Incorporated (NYSE:CMA) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in Comerica Incorporated (NYSE:CMA) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,320 shares of the financial services provider’s stock after selling 3,540 shares during the period. Nisa Investment Advisors LLC’s holdings in Comerica were worth $3,836,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CMA. Trust Co. of Vermont lifted its position in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 321 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Comerica in the 3rd quarter valued at $36,000. MCF Advisors LLC boosted its stake in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Comerica during the third quarter worth $42,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Comerica by 19.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $66,000 after buying an additional 199 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Trading Up 1.2 %

Shares of NYSE CMA opened at $63.26 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $8.32 billion, a PE ratio of 12.60 and a beta of 1.26. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The stock has a fifty day simple moving average of $65.56 and a 200-day simple moving average of $60.95.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period last year, the company earned $1.46 earnings per share. On average, equities analysts forecast that Comerica Incorporated will post 5.36 earnings per share for the current year.

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

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.49%. The ex-dividend date was Friday, December 13th. Comerica’s payout ratio is currently 56.57%.

Insiders Place Their Bets

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were 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 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 legal filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CMA shares. Barclays boosted their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Robert W. Baird dropped their price target on Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday. Morgan Stanley reduced their price objective on Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Stephens raised their target price on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.33.

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.