Proffitt & Goodson Inc. Acquires 395 Shares of Comerica Incorporated $CMA

Proffitt & Goodson Inc. lifted its holdings in Comerica Incorporated (NYSE:CMA) by 64.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,011 shares of the financial services provider’s stock after purchasing an additional 395 shares during the period. Proffitt & Goodson Inc.’s holdings in Comerica were worth $60,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in Comerica during the 1st quarter worth approximately $33,000. Gen Wealth Partners Inc bought a new stake in Comerica during the 1st quarter worth approximately $34,000. Geneos Wealth Management Inc. raised its stake in Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 176 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Comerica during the 1st quarter worth approximately $55,000. Finally, MAI Capital Management raised its stake in Comerica by 32.1% during the 1st quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 229 shares during the period. Institutional investors own 80.74% of the company’s stock.

Comerica Trading Down 0.2%

CMA stock opened at $80.03 on Wednesday. The firm has a fifty day moving average price of $69.25 and a 200 day moving average price of $61.82. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $83.22. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $10.28 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 14.37 and a beta of 0.96.

Comerica (NYSE:CMA) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The firm had revenue of $849.00 million during the quarter, compared to analyst estimates of $844.39 million. During the same period last year, the firm posted $1.49 earnings per share. Sell-side analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.5%. Comerica’s dividend payout ratio (DPR) is 54.41%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Cowen assumed coverage on shares of Comerica in a research note on Wednesday, September 24th. They set a “hold” rating on the stock. Morgan Stanley upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price on the stock in a research note on Tuesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Comerica in a research report on Saturday, September 27th. TD Cowen started coverage on shares of Comerica in a research report on Thursday, September 25th. They set a “hold” rating and a $75.00 price objective on the stock. Finally, DA Davidson set a $60.00 price objective on shares of Comerica and gave the company a “neutral” rating in a research report on Monday, July 21st. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.50.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction 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 transaction, the executive vice president directly owned 9,424 shares of the company’s stock, valued at $631,690.72. The trade was a 18.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total value of $269,120.00. Following the sale, the insider owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. This trade represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Comerica 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.