GAMMA Investing LLC Takes Position in Comerica Incorporated (NYSE:CMA)

GAMMA Investing LLC bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,010 shares of the financial services provider’s stock, valued at approximately $158,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new stake in Comerica during the fourth quarter valued at approximately $36,000. Fortitude Family Office LLC bought a new stake in shares of Comerica during the 4th quarter worth $36,000. FNY Investment Advisers LLC acquired a new position in shares of Comerica in the 4th quarter worth $50,000. CVA Family Office LLC acquired a new stake in shares of Comerica during the fourth quarter worth $56,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Comerica during the third quarter valued at $47,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction that occurred 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 owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Insiders sold 11,921 shares of company stock worth $630,693 in the last 90 days. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMA. Evercore ISI upped their target price on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 target price on shares of Comerica in a report on Monday, April 22nd. UBS Group reduced their target price on Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Stephens reaffirmed an “overweight” rating and set a $64.00 target price on shares of Comerica in a report on Friday, April 19th. Finally, Raymond James downgraded Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.98.

Comerica Stock Performance

Shares of NYSE CMA opened at $52.08 on Friday. The business’s 50-day simple moving average is $51.54 and its 200-day simple moving average is $49.66. Comerica Incorporated has a 52 week low of $28.40 and a 52 week high of $57.39. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of 10.35 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The company 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 quarter last year, the company earned $2.39 EPS. As a group, equities research analysts expect that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given 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 dividend yield of 5.45%. Comerica’s dividend payout ratio (DPR) 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.