Captrust Financial Advisors increased its position in Comerica Incorporated (NYSE:CMA – Free Report) by 19.1% during the third quarter, Holdings Channel reports. The fund owned 14,085 shares of the financial services provider’s stock after purchasing an additional 2,263 shares during the quarter. Captrust Financial Advisors’ holdings in Comerica were worth $844,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of Comerica by 19.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 199 shares during the period. Summit Securities Group LLC increased its position in Comerica by 22.4% in the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 202 shares during the period. UMB Bank n.a. raised its stake in Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares in the last quarter. Centennial Wealth Advisory LLC boosted its position in Comerica by 5.2% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 252 shares during the period. Finally, Busey Bank grew its stake in shares of Comerica by 4.5% in the second quarter. Busey Bank now owns 7,305 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 313 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on CMA shares. Keefe, Bruyette & Woods lifted their price objective on shares of Comerica from $72.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of Comerica from $71.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Barclays increased their price objective on shares of Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $51.00 to $73.00 in a report on Friday, November 15th. Finally, StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Comerica currently has a consensus rating of “Hold” and an average price target of $66.67.
Get Our Latest Stock Report on CMA
Comerica Stock Performance
Comerica stock opened at $67.70 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $8.90 billion, a P/E ratio of 16.93 and a beta of 1.23. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The firm’s 50 day simple moving average is $65.60 and its 200-day simple moving average is $57.61.
Comerica (NYSE:CMA – Get Free Report) last announced its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same period in the previous year, the business earned $1.84 EPS. As a group, equities research analysts predict that Comerica Incorporated will post 5.37 EPS for the current year.
Comerica Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.19%. The ex-dividend date is Friday, December 13th. Comerica’s dividend payout ratio is currently 71.00%.
Comerica announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 5th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at Comerica
In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of Comerica stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the completion of the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP James Harry Weber sold 6,500 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total transaction of $410,995.00. Following the transaction, the executive vice president now owns 15,773 shares in the company, valued at approximately $997,326.79. This represents a 29.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,456 shares of company stock valued at $977,287 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.
Comerica Profile
(Free Report)
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.
See Also
Want to see what other hedge funds are holding CMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comerica Incorporated (NYSE:CMA – Free Report).
Receive News & Ratings for Comerica Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Comerica and related companies with MarketBeat.com’s FREE daily email newsletter.
