NewEdge Wealth LLC Has $42.98 Million Stock Position in Comerica Incorporated $CMA

NewEdge Wealth LLC increased its position in shares of Comerica Incorporated (NYSE:CMA) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 627,289 shares of the financial services provider’s stock after buying an additional 14,223 shares during the quarter. NewEdge Wealth LLC’s holdings in Comerica were worth $42,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. United Community Bank acquired a new position in Comerica during the 3rd quarter worth $26,000. Center for Financial Planning Inc. increased its stake 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 period. Root Financial Partners LLC bought a new position in shares of Comerica in the third quarter worth about $40,000. Geneos Wealth Management Inc. lifted its position in shares of Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 176 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Comerica during the 2nd quarter valued at approximately $35,000. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Down 2.0%

CMA opened at $90.98 on Thursday. The company has a market capitalization of $11.63 billion, a P/E ratio of 17.20 and a beta of 1.04. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.97 and a quick ratio of 0.96. The firm’s fifty day moving average price is $90.69 and its two-hundred day moving average price is $79.87. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $99.41.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.18. The company had revenue of $850.00 million during the quarter, compared to analysts’ expectations of $851.32 million. Comerica had a net margin of 15.07% and a return on equity of 10.74%. During the same quarter in the prior year, the company posted $1.20 EPS. On average, analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Insider Buying and Selling

In other Comerica news, insider James Mcgregor Carr sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $98.06, for a total transaction of $980,600.00. Following the completion of the transaction, the insider owned 23,959 shares in the company, valued at $2,349,419.54. This trade represents a 29.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Allysun C. Fleming sold 8,864 shares of Comerica stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $94.47, for a total value of $837,382.08. Following the sale, the executive vice president directly owned 4,785 shares in the company, valued at $452,038.95. The trade was a 64.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 27,662 shares of company stock valued at $2,680,538 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CMA shares. TD Cowen reaffirmed a “hold” rating on shares of Comerica in a research report on Wednesday, January 7th. Evercore set a $89.00 price objective on shares of Comerica in a research note on Tuesday, January 6th. Citigroup upped their target price on shares of Comerica from $82.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, December 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Comerica in a research report on Wednesday, January 21st. Finally, 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 report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Comerica currently has a consensus rating of “Hold” and an average price target of $79.56.

About Comerica

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.