Alaska Permanent Fund Corp Has $3.01 Million Holdings in Comerica Incorporated (NYSE:CMA)

Alaska Permanent Fund Corp lessened its holdings in shares of Comerica Incorporated (NYSE:CMA) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 53,856 shares of the financial services provider’s stock after selling 1,544 shares during the period. Alaska Permanent Fund Corp’s holdings in Comerica were worth $3,006,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Comerica during the 4th quarter worth about $36,000. Fortitude Family Office LLC acquired a new position in shares of Comerica during the 4th quarter worth about $36,000. FNY Investment Advisers LLC acquired a new position in shares of Comerica during the 4th quarter worth about $50,000. CVA Family Office LLC acquired a new position in shares of Comerica during the 4th quarter worth about $56,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Comerica during the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Price Performance

Shares of CMA traded up $0.31 on Wednesday, hitting $52.95. The company’s stock had a trading volume of 1,587,651 shares, compared to its average volume of 2,115,087. The company has a market capitalization of $7.02 billion, a PE ratio of 10.47 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. Comerica Incorporated has a fifty-two week low of $28.40 and a fifty-two week high of $57.39. The company has a 50 day moving average price of $51.44 and a 200 day moving average price of $49.54.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the prior year, the business earned $2.39 EPS. On average, research analysts anticipate that Comerica Incorporated will post 5.11 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio is 56.46%.

Insiders Place Their Bets

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction 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 directly owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective on Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Stephens restated an “overweight” rating and set a $64.00 price target on shares of Comerica in a research note on Friday, April 19th. Evercore ISI boosted their price target on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on Comerica in a research note on Wednesday, April 10th. They set a “hold” rating and a $59.00 price target on the stock. 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 note on Monday. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.