Linden Thomas Advisory Services LLC Grows Position in Comerica Incorporated (NYSE:CMA)

Linden Thomas Advisory Services LLC raised its stake in shares of Comerica Incorporated (NYSE:CMA) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,718 shares of the financial services provider’s stock after purchasing an additional 1,052 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Comerica were worth $1,770,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Comerica during the fourth quarter valued at approximately $36,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Comerica during the fourth quarter valued at $36,000. Authentikos Wealth Advisory LLC bought a new position in Comerica in the 3rd quarter worth about $47,000. FNY Investment Advisers LLC bought a new position in Comerica in the fourth quarter worth approximately $50,000. Finally, CVA Family Office LLC purchased a new stake in shares of Comerica in the 4th quarter worth $56,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

CMA traded down $0.04 during trading on Wednesday, reaching $52.60. The stock had a trading volume of 424,728 shares, compared to its average volume of 2,100,062. Comerica Incorporated has a 1-year low of $28.40 and a 1-year high of $57.39. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 10.47 and a beta of 1.27. The stock has a 50 day moving average of $51.44 and a two-hundred day moving average of $49.54.

Comerica (NYSE:CMA) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted $2.39 earnings per share. As a group, equities analysts anticipate that Comerica Incorporated will post 5.11 EPS for the current fiscal year.

Comerica Announces Dividend

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

Insider Transactions at Comerica

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMA. UBS Group lowered their price objective on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Stephens restated an “overweight” rating and set a $64.00 price objective on shares of Comerica in a research note on Friday, April 19th. Raymond James downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Truist Financial reduced their price objective on shares of Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday. Finally, Evercore ISI raised their price objective on Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Comerica presently has an average rating of “Hold” and an average price target of $56.89.

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.