tru Independence LLC Has $5.19 Million Position in Comerica Incorporated $CMA

tru Independence LLC boosted its position in shares of Comerica Incorporated (NYSE:CMA) by 2.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,065 shares of the financial services provider’s stock after purchasing an additional 1,990 shares during the quarter. Comerica accounts for about 1.5% of tru Independence LLC’s investment portfolio, making the stock its 23rd biggest holding. tru Independence LLC’s holdings in Comerica were worth $5,193,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new position in Comerica during the first quarter valued at approximately $33,000. Gen Wealth Partners Inc acquired a new position in Comerica during the first quarter valued at approximately $34,000. Geneos Wealth Management Inc. grew its holdings in Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 176 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Comerica during the first quarter valued at approximately $55,000. Finally, MAI Capital Management grew its holdings in Comerica by 32.1% during the first quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Buying and Selling at Comerica

In related news, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the transaction, the insider owned 33,471 shares in the company, valued at approximately $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $140,763.00. Following the transaction, the executive vice president owned 9,424 shares of the company’s stock, valued at $631,690.72. The trade was a 18.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group boosted their price objective on shares of Comerica from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, September 3rd. Stephens reiterated an “equal weight” rating on shares of Comerica in a report on Monday, July 21st. Cantor Fitzgerald began coverage on shares of Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price target for the company. Piper Sandler upped their price target on shares of Comerica from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Citigroup upped their price target on shares of Comerica from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $64.60.

Comerica Stock Performance

Shares of CMA opened at $68.69 on Wednesday. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $73.45. The firm has a fifty day simple moving average of $68.13 and a 200 day simple moving average of $60.88. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 12.29 and a beta of 0.97. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The business had revenue of $849.00 million during the quarter, compared to analysts’ expectations of $844.39 million. During the same quarter in the prior year, the company posted $1.49 earnings per share. Research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 4.1%. Comerica’s dividend payout ratio is presently 54.41%.

Comerica Company 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.