Comerica Incorporated (NYSE:CMA) Shares Sold by Comprehensive Financial Consultants Institutional Inc.

Comprehensive Financial Consultants Institutional Inc. reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 10.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,557 shares of the financial services provider’s stock after selling 805 shares during the quarter. Comprehensive Financial Consultants Institutional Inc.’s holdings in Comerica were worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Comerica by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 15,871,102 shares of the financial services provider’s stock worth $1,435,224,000 after acquiring an additional 366,188 shares in the last quarter. BlackRock Inc. raised its stake in Comerica by 2.2% during the 2nd quarter. BlackRock Inc. now owns 13,606,533 shares of the financial services provider’s stock worth $576,373,000 after acquiring an additional 292,535 shares in the last quarter. State Street Corp raised its stake in Comerica by 3.9% during the 3rd quarter. State Street Corp now owns 7,675,947 shares of the financial services provider’s stock worth $550,764,000 after acquiring an additional 284,884 shares in the last quarter. First Trust Advisors LP raised its stake in Comerica by 1,192.2% during the 1st quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock worth $168,405,000 after acquiring an additional 3,578,355 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Comerica by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,294,605 shares of the financial services provider’s stock worth $136,891,000 after acquiring an additional 115,446 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the company’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 transaction, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Comerica from $45.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Bank Of America (Bofa) boosted their price target on shares of Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Evercore ISI boosted their price target on shares of Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Barclays boosted their price target on shares of Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Finally, The Goldman Sachs Group raised shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price objective on the stock in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.02.

Comerica Trading Down 0.7 %

Shares of NYSE:CMA traded down $0.39 during trading on Friday, reaching $52.37. The stock had a trading volume of 193,991 shares, compared to its average volume of 2,135,519. The business has a fifty day moving average price of $51.49 and a 200-day moving average price of $48.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The stock has a market cap of $6.94 billion, a P/E ratio of 8.19 and a beta of 1.27. Comerica Incorporated has a fifty-two week low of $28.40 and a fifty-two week high of $57.39.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same quarter in the previous year, the business posted $2.58 earnings per share. As a group, analysts anticipate that Comerica Incorporated will post 5.23 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date was Thursday, March 14th. Comerica’s dividend payout ratio is presently 44.10%.

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.