Forum Financial Management LP Purchases 618 Shares of Comerica Incorporated $CMA

Forum Financial Management LP increased its position in Comerica Incorporated (NYSE:CMA) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,176 shares of the financial services provider’s stock after purchasing an additional 618 shares during the quarter. Forum Financial Management LP’s holdings in Comerica were worth $488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MorganRosel Wealth Management LLC bought a new position in Comerica in the 1st quarter valued at about $33,000. Gen Wealth Partners Inc bought a new position in Comerica in the 1st quarter valued at about $34,000. Geneos Wealth Management Inc. raised its holdings in Comerica by 41.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 176 shares during the period. FNY Investment Advisers LLC bought a new position in Comerica in the 2nd quarter valued at about $35,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Comerica in the 1st quarter valued at about $55,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Up 1.4%

Shares of CMA opened at $78.33 on Friday. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $83.22. The firm’s 50 day moving average is $71.86 and its 200-day moving average is $63.63. The stock has a market capitalization of $10.07 billion, a PE ratio of 14.95 and a beta of 0.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Comerica (NYSE:CMA) last announced its earnings results on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The company had revenue of $824.00 million for the quarter. Equities research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.71 per share. The ex-dividend date was Monday, September 15th. This represents a $2.84 annualized dividend and a dividend yield of 3.6%. Comerica’s dividend payout ratio (DPR) is currently 54.20%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMA. Truist Financial increased their price target on shares of Comerica from $68.00 to $70.00 and gave the company a “hold” rating in a report on Friday, September 12th. Citigroup increased 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. Wells Fargo & Company increased their price target on shares of Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. increased their price target on shares of Comerica from $52.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Finally, DA Davidson set a $60.00 price target on shares of Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Comerica presently has a consensus rating of “Hold” and a consensus price target of $73.65.

Insider Activity at Comerica

In related news, insider James Mcgregor Carr sold 4,000 shares of the 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 sale, the insider owned 33,471 shares in the company, valued at approximately $2,251,928.88. This trade represents a 10.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 9,424 shares in the company, valued at $631,690.72. This represents a 18.22% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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.