Fiduciary Alliance LLC Takes Position in Comerica Incorporated (NYSE:CMA)

Fiduciary Alliance LLC acquired a new position in Comerica Incorporated (NYSE:CMA) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 8,445 shares of the financial services provider’s stock, valued at approximately $506,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Family Firm Inc. purchased a new stake in shares of Comerica in the second quarter valued at about $37,000. UMB Bank n.a. lifted its stake in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after buying an additional 208 shares in the last quarter. Versant Capital Management Inc grew its holdings in Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after buying an additional 300 shares in the last quarter. Finally, Summit Securities Group LLC raised its holdings in shares of Comerica by 22.4% in the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 202 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Trading Up 0.1 %

NYSE CMA opened at $61.32 on Tuesday. The stock has a market cap of $8.13 billion, a P/E ratio of 12.19 and a beta of 1.23. The company’s fifty day simple moving average is $57.09 and its 200-day simple moving average is $53.52. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a 52 week low of $37.40 and a 52 week high of $61.84.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. During the same period in the prior year, the company posted $2.01 EPS. Equities research analysts predict that Comerica Incorporated will post 5.12 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date was Friday, September 13th. Comerica’s payout ratio is 56.46%.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays dropped their price objective on Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Piper Sandler boosted their price objective on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Comerica from a “hold” rating to a “sell” rating in a research note on Friday. Robert W. Baird cut their price target on Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Finally, DA Davidson restated a “neutral” rating and set a $55.00 price objective on shares of Comerica in a report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.62.

About Comerica

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.