SG Americas Securities LLC Buys Shares of 47,693 Comerica Incorporated (NYSE:CMA)

SG Americas Securities LLC bought a new stake in shares of Comerica Incorporated (NYSE:CMA) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 47,693 shares of the financial services provider’s stock, valued at approximately $2,950,000.

A number of other hedge funds have also made changes to their positions in the stock. Wedmont Private Capital boosted its stake in Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 186 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Comerica by 19.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 199 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Comerica by 56.3% during the fourth 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. Centennial Wealth Advisory LLC grew its stake in Comerica by 5.2% in the third quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 252 shares in the last quarter. Finally, Trust Co. of Vermont raised its stake in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after buying an additional 321 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CMA. Truist Financial upgraded Comerica to a “hold” rating in a report on Monday, January 6th. Robert W. Baird lowered their target price on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday. Evercore ISI raised their price target on shares of Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Piper Sandler boosted their price objective on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Bank of America lowered shares of Comerica from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $55.00 to $52.00 in a research note on Monday, October 7th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $68.33.

Insiders Place Their Bets

In other news, EVP Allysun C. Fleming sold 1,392 shares of Comerica stock in a transaction that occurred 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 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 document filed with the SEC, which is accessible through this link. 0.19% of the stock is owned by company insiders.

Comerica Trading Up 1.2 %

Shares of NYSE:CMA opened at $63.26 on Friday. The company has a 50 day moving average of $65.56 and a 200-day moving average of $60.95. 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 firm has a market cap of $8.32 billion, a P/E 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.

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 analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the company earned $1.46 earnings per share. As a group, analysts anticipate that Comerica Incorporated will post 5.36 earnings per share for the current fiscal year.

Comerica Announces Dividend

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

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

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.