1900 Wealth Management LLC Makes New $234,000 Investment in Comerica Incorporated (NYSE:CMA)

1900 Wealth Management LLC bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,200 shares of the financial services provider’s stock, valued at approximately $234,000.

Several other hedge funds have also recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Comerica by 6.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,982 shares of the financial services provider’s stock worth $1,283,000 after buying an additional 1,357 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Comerica by 13.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,534 shares of the financial services provider’s stock worth $197,000 after buying an additional 423 shares during the last quarter. Oakworth Capital Inc. increased its position in Comerica by 49,978.7% during the fourth quarter. Oakworth Capital Inc. now owns 230,863 shares of the financial services provider’s stock worth $12,884,000 after buying an additional 230,402 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Comerica by 8.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,923 shares of the financial services provider’s stock worth $1,614,000 after buying an additional 2,295 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in Comerica during the fourth quarter worth $264,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Stock Up 0.1 %

Shares of CMA opened at $52.64 on Wednesday. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 10.47 and a beta of 1.27. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39. The company has a 50-day moving average price of $51.44 and a two-hundred day moving average price of $49.54.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter last year, the company earned $2.39 earnings per share. Equities analysts predict that Comerica Incorporated will post 5.11 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Insider Activity

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the transaction, the executive vice president now owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMA has been the topic of several analyst reports. DA Davidson reissued a “neutral” rating and set a $56.00 target price on shares of Comerica in a research report on Wednesday, March 6th. Keefe, Bruyette & Woods lowered their price target on Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Evercore ISI raised their price target on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Royal Bank of Canada raised their price target on Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, Truist Financial lowered their price target on Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.89.

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.