GAMMA Investing LLC Buys Shares of 3,010 Comerica Incorporated (NYSE:CMA)

GAMMA Investing LLC bought a new stake in Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,010 shares of the financial services provider’s stock, valued at approximately $158,000.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Comerica during the third quarter worth about $756,000. Czech National Bank increased its stake in Comerica by 47.8% during the third quarter. Czech National Bank now owns 23,031 shares of the financial services provider’s stock worth $957,000 after purchasing an additional 7,444 shares during the period. Linden Thomas Advisory Services LLC purchased a new stake in Comerica during the third quarter worth about $1,274,000. Raymond James & Associates increased its stake in Comerica by 34.0% during the third quarter. Raymond James & Associates now owns 172,199 shares of the financial services provider’s stock worth $7,155,000 after purchasing an additional 43,679 shares during the period. Finally, 1834 Investment Advisors Co. increased its stake in Comerica by 3.8% during the third quarter. 1834 Investment Advisors Co. now owns 102,776 shares of the financial services provider’s stock worth $4,270,000 after purchasing an additional 3,798 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

CMA has been the topic of a number of recent research reports. Bank Of America (Bofa) upped their target price on shares of Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Evercore ISI upped their price target on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods lowered their price target on Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Piper Sandler increased their price objective on Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a report on Wednesday, April 10th. They issued a “hold” rating and a $59.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.98.

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the sale, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,921 shares of company stock worth $630,693. 0.19% of the stock is owned by corporate insiders.

Comerica Trading Down 0.1 %

Comerica stock opened at $52.08 on Friday. The stock has a market cap of $6.90 billion, a PE ratio of 10.35 and a beta of 1.27. The stock has a 50-day moving average price of $51.54 and a 200 day moving average price of $49.66. Comerica Incorporated has a 52 week low of $28.40 and a 52 week high of $57.39. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA) last posted its quarterly earnings data 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 return on equity of 16.51% and a net margin of 13.11%. During the same quarter last year, the business posted $2.39 EPS. Equities research analysts predict that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date is Friday, June 14th. Comerica’s dividend payout ratio is presently 56.46%.

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.