Comprehensive Financial Consultants Institutional Inc. Has $210,000 Position in Comerica Incorporated $CMA

Comprehensive Financial Consultants Institutional Inc. lessened its holdings in shares of Comerica Incorporated (NYSE:CMA) by 20.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,520 shares of the financial services provider’s stock after selling 917 shares during the period. Comprehensive Financial Consultants Institutional Inc.’s holdings in Comerica were worth $210,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. M&T Bank Corp boosted its position in shares of Comerica by 11.2% in the 1st quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider’s stock worth $780,000 after purchasing an additional 1,326 shares during the last quarter. Baron Wealth Management LLC bought a new position in Comerica during the second quarter worth about $240,000. Rhino Investment Partners Inc grew its position in shares of Comerica by 35.4% during the 1st quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock worth $23,191,000 after buying an additional 102,647 shares during the period. Bessemer Group Inc. increased its stake in shares of Comerica by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider’s stock valued at $666,000 after acquiring an additional 414 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its position in shares of Comerica by 25.8% in the 1st quarter. Wolverine Asset Management LLC now owns 41,997 shares of the financial services provider’s stock valued at $2,480,000 after acquiring an additional 8,604 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Buying and Selling

In other news, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 33,471 shares of the company’s stock, valued at $2,251,928.88. This trade represents a 10.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the sale, the executive vice president owned 9,424 shares in the company, valued at $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Comerica Trading Up 13.7%

Shares of NYSE:CMA opened at $80.19 on Tuesday. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 12.64 and a beta of 0.96. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $83.22. The company’s fifty day simple moving average is $69.04 and its 200 day simple moving average is $61.69. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84.

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

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were paid a $0.71 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 3.5%. Comerica’s payout ratio is presently 54.41%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Comerica in a report on Saturday, September 27th. TD Cowen began coverage on shares of Comerica in a research report on Thursday, September 25th. They set a “hold” rating and a $75.00 price target on the stock. Piper Sandler upped their price objective on shares of Comerica from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Raymond James Financial reaffirmed a “market perform” rating on shares of Comerica in a research note on Tuesday, July 8th. Finally, Truist Financial lifted their target price on Comerica from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.80.

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.