Primecap Management Co. CA Acquires 31,825 Shares of Comerica Incorporated $CMA

Primecap Management Co. CA raised its holdings in shares of Comerica Incorporated (NYSE:CMA) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,625,625 shares of the financial services provider’s stock after acquiring an additional 31,825 shares during the period. Primecap Management Co. CA’s holdings in Comerica were worth $179,908,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. United Community Bank bought a new stake in shares of Comerica during the 3rd quarter valued at about $26,000. Center for Financial Planning Inc. increased its position in shares of Comerica by 41.2% in the third quarter. Center for Financial Planning Inc. now owns 514 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 150 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Comerica by 41.8% in 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 in the last quarter. Root Financial Partners LLC bought a new stake in Comerica during the third quarter valued at approximately $40,000. Finally, Employees Retirement System of Texas bought a new position in shares of Comerica in the 2nd quarter worth $48,000. 80.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Comerica news, EVP Allysun C. Fleming sold 8,864 shares of Comerica stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $94.47, for a total value of $837,382.08. Following the transaction, the executive vice president directly owned 4,785 shares of the company’s stock, valued at $452,038.95. The trade was a 64.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Harry Weber sold 8,798 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $98.04, for a total value of $862,555.92. Following the completion of the sale, the executive vice president owned 20,543 shares of the company’s stock, valued at $2,014,035.72. The trade was a 29.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,662 shares of company stock valued at $2,680,538 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CMA. UBS Group upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Tuesday, January 6th. TD Cowen reissued a “hold” rating on shares of Comerica in a research note on Wednesday, January 7th. Evercore set a $89.00 price target on Comerica in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Comerica in a report on Wednesday, January 21st. Finally, Citigroup increased their price objective on Comerica from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, December 30th. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $79.56.

Comerica Stock Performance

Comerica stock opened at $90.98 on Friday. The firm has a fifty day simple moving average of $90.99 and a two-hundred day simple moving average of $80.79. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.74. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $99.41. The company has a market capitalization of $11.63 billion, a PE ratio of 17.20 and a beta of 1.04.

Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.28 by $0.18. Comerica had a return on equity of 10.74% and a net margin of 15.07%.The firm had revenue of $850.00 million for the quarter, compared to the consensus estimate of $851.32 million. During the same quarter in the previous year, the business earned $1.20 earnings per share. Research analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.