Telemus Capital LLC Sells 1,654 Shares of Comerica Incorporated (NYSE:CMA)

Telemus Capital LLC reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 13.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,521 shares of the financial services provider’s stock after selling 1,654 shares during the period. Telemus Capital LLC’s holdings in Comerica were worth $587,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Comerica during the 4th quarter worth approximately $36,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Comerica in the 4th quarter worth approximately $36,000. Authentikos Wealth Advisory LLC purchased a new position in shares of Comerica in the 3rd quarter worth approximately $47,000. FNY Investment Advisers LLC purchased a new position in shares of Comerica in the 4th quarter worth approximately $50,000. Finally, CVA Family Office LLC purchased a new position in shares of Comerica in the 4th quarter worth approximately $56,000. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMA has been the topic of several research analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $53.00 price objective on shares of Comerica in a research note on Monday. Stephens reaffirmed an “overweight” rating and issued a $64.00 price target on shares of Comerica in a report on Friday. Barclays upped their price target on shares of Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods reduced their target price on Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Finally, DA Davidson reissued a “neutral” rating and issued a $56.00 target price on shares of Comerica in a research note on Wednesday, March 6th. Three 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.89.

Comerica Stock Performance

Shares of CMA opened at $52.59 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. Comerica Incorporated has a one year low of $28.40 and a one year high of $57.39. The company has a 50-day simple moving average of $51.38 and a two-hundred day simple moving average of $49.45. The firm has a market capitalization of $6.97 billion, a PE ratio of 10.46 and a beta of 1.27.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. During the same period last year, the business posted $2.39 earnings per share. On average, analysts anticipate that Comerica Incorporated will post 5.09 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.40%. Comerica’s dividend payout ratio is 56.46%.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at $454,276.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of the firm’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 sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Comerica Company 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.