Linden Thomas Advisory Services LLC Raises Holdings in Comerica Incorporated (NYSE:CMA)

Linden Thomas Advisory Services LLC grew its holdings in shares of Comerica Incorporated (NYSE:CMA) by 3.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 31,718 shares of the financial services provider’s stock after buying an additional 1,052 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Comerica were worth $1,770,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in Comerica during the 4th quarter worth about $36,000. Turtle Creek Wealth Advisors LLC purchased a new position in Comerica during the 4th quarter valued at about $36,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Comerica during the third quarter valued at about $47,000. FNY Investment Advisers LLC purchased a new stake in shares of Comerica in the fourth quarter worth about $50,000. Finally, CVA Family Office LLC bought a new position in shares of Comerica in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Down 0.1 %

Shares of NYSE CMA traded down $0.04 during midday trading on Wednesday, hitting $52.60. The stock had a trading volume of 424,728 shares, compared to its average volume of 2,100,062. The business’s 50 day moving average is $51.44 and its 200-day moving average is $49.54. Comerica Incorporated has a 52 week low of $28.40 and a 52 week high of $57.39. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The company has a market cap of $6.97 billion, a P/E ratio of 10.47 and a beta of 1.27.

Comerica (NYSE:CMA) last posted its 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 business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the firm posted $2.39 EPS. As a group, analysts predict that Comerica Incorporated will post 5.11 EPS for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio is currently 56.46%.

Insider Activity at Comerica

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 transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $88,298.24. Following the sale, the executive vice president now directly owns 8,314 shares in the company, valued at $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CMA shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 target price on shares of Comerica in a report on Monday. DA Davidson reiterated a “neutral” rating and issued a $56.00 price objective on shares of Comerica in a research report on Wednesday, March 6th. Keefe, Bruyette & Woods dropped their price objective on Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Stephens reaffirmed an “overweight” rating and issued a $64.00 price target on shares of Comerica in a report on Friday, April 19th. Finally, Evercore ISI boosted their price objective on Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.