Comerica Incorporated (NYSE:CMA) Stock Holdings Trimmed by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its holdings in Comerica Incorporated (NYSE:CMA) by 23.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,865 shares of the financial services provider’s stock after selling 2,471 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Comerica were worth $471,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CMA. Price T Rowe Associates Inc. MD increased its stake in Comerica by 105.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock valued at $10,031,000 after buying an additional 3,595,036 shares during the period. Comerica Bank increased its stake in shares of Comerica by 2.1% during the first quarter. Comerica Bank now owns 150,608 shares of the financial services provider’s stock valued at $8,282,000 after acquiring an additional 3,076 shares during the period. iA Global Asset Management Inc. bought a new stake in Comerica during the first quarter worth approximately $244,000. Cetera Advisors LLC acquired a new stake in Comerica in the first quarter worth approximately $259,000. Finally, Abich Financial Wealth Management LLC increased its position in shares of Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Trading Down 0.4 %

NYSE CMA opened at $72.32 on Friday. The company has a market capitalization of $9.51 billion, a PE ratio of 18.08 and a beta of 1.22. Comerica Incorporated has a 1-year low of $42.55 and a 1-year high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The firm’s fifty day simple moving average is $63.93 and its 200-day simple moving average is $56.63.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 12.54% and a net margin of 11.17%. During the same period last year, the business earned $1.84 EPS. As a group, sell-side analysts anticipate that Comerica Incorporated will post 5.37 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.84 annualized dividend and a dividend yield of 3.93%. Comerica’s dividend payout ratio (DPR) is 71.00%.

Comerica announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CMA shares. Morgan Stanley raised their target price on Comerica from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Barclays lifted their price objective on shares of Comerica from $56.00 to $66.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $69.00 in a report on Thursday, September 5th. Stephens upped their price target on Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Truist Financial raised their price objective on Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.10.

Insider Activity

In related news, EVP Allysun C. Fleming sold 1,392 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the transaction, the executive vice president now directly owns 8,730 shares of the company’s stock, valued at approximately $600,885.90. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bruce Mitchell sold 7,564 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total value of $470,480.80. Following the sale, the executive vice president now directly owns 16,428 shares of the company’s stock, valued at $1,021,821.60. The trade was a 31.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,456 shares of company stock worth $977,287. 0.19% of the stock is owned by corporate insiders.

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.