KBC Group NV Purchases 1,817 Shares of Comerica Incorporated (NYSE:CMA)

KBC Group NV grew its position in Comerica Incorporated (NYSE:CMA) by 45.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,772 shares of the financial services provider’s stock after acquiring an additional 1,817 shares during the period. KBC Group NV’s holdings in Comerica were worth $357,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont increased its position in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after buying an additional 321 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Comerica during the 3rd quarter worth approximately $36,000. MCF Advisors LLC increased its holdings in shares of 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 acquiring an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Comerica in the 3rd quarter valued at $42,000. Finally, UMB Bank n.a. lifted its holdings in Comerica by 74.2% during the 4th quarter. UMB Bank n.a. now owns 1,488 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 634 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 8,730 shares in the company, valued at approximately $600,885.90. This represents a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

CMA has been the topic of several research analyst reports. Evercore ISI increased their price objective on shares of Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Barclays raised their price objective 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. Royal Bank of Canada lowered their target price on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley reduced their price target on Comerica from $76.00 to $71.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, Stephens increased their price objective on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.33.

Comerica Stock Up 0.0 %

CMA stock opened at $67.39 on Monday. The firm has a 50-day moving average price of $65.21 and a 200-day moving average price of $61.32. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. 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 $8.86 billion, a P/E ratio of 13.42 and a beta of 1.26.

Comerica (NYSE:CMA) last issued 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 net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the business posted $1.46 earnings per share. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.35 EPS for the current fiscal year.

Comerica declared that its Board of Directors has initiated 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 often an indication that the company’s leadership believes its shares are undervalued.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a $0.71 dividend. The ex-dividend date was Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.21%. Comerica’s payout ratio is presently 56.57%.

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.