4,200 Shares in Comerica Incorporated (NYSE:CMA) Purchased by 1900 Wealth Management LLC

1900 Wealth Management LLC bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,200 shares of the financial services provider’s stock, valued at approximately $234,000.

Other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Comerica by 6.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,982 shares of the financial services provider’s stock valued at $1,283,000 after purchasing an additional 1,357 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Comerica by 13.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,534 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 423 shares in the last quarter. Oakworth Capital Inc. raised its position in Comerica by 49,978.7% in the 4th quarter. Oakworth Capital Inc. now owns 230,863 shares of the financial services provider’s stock valued at $12,884,000 after purchasing an additional 230,402 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Comerica by 8.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,923 shares of the financial services provider’s stock valued at $1,614,000 after purchasing an additional 2,295 shares in the last quarter. Finally, SVB Wealth LLC acquired a new stake in Comerica in the 4th quarter valued at about $264,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Buying and Selling

In related news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the transaction, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at $454,276.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CMA shares. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Comerica in a research report on Wednesday, March 6th. UBS Group cut their target price on Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft began coverage on Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price on the stock. Piper Sandler raised their price target on Comerica from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Finally, Bank Of America (Bofa) raised their price target on Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Comerica has a consensus rating of “Hold” and an average target price of $56.89.

Comerica Stock Up 0.1 %

CMA opened at $52.64 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The business has a 50 day simple moving average of $51.44 and a 200-day simple moving average of $49.54. The stock has a market capitalization of $6.97 billion, a P/E ratio of 10.47 and a beta of 1.27. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the previous year, the firm posted $2.39 earnings per share. On average, equities analysts anticipate that Comerica Incorporated will post 5.11 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.40%. Comerica’s dividend payout ratio is presently 56.46%.

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.