M Holdings Securities Inc. Takes $385,000 Position in Comerica Incorporated (NYSE:CMA)

M Holdings Securities Inc. acquired a new stake in shares of Comerica Incorporated (NYSE:CMAGet Rating) during the first quarter, HoldingsChannel reports. The fund acquired 4,260 shares of the financial services provider’s stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Advisory Services Network LLC lifted its position in Comerica by 3.5% during the first quarter. Advisory Services Network LLC now owns 7,266 shares of the financial services provider’s stock valued at $657,000 after acquiring an additional 246 shares during the last quarter. Neuberger Berman Group LLC lifted its position in Comerica by 7.8% during the first quarter. Neuberger Berman Group LLC now owns 1,702,552 shares of the financial services provider’s stock valued at $154,093,000 after acquiring an additional 122,515 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Comerica by 10.0% during the first quarter. The Manufacturers Life Insurance Company now owns 1,029,242 shares of the financial services provider’s stock valued at $93,074,000 after acquiring an additional 93,955 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Comerica by 96.7% during the first quarter. BNP Paribas Arbitrage SA now owns 186,829 shares of the financial services provider’s stock valued at $16,895,000 after acquiring an additional 91,858 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in Comerica during the first quarter valued at approximately $4,811,000. 82.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Peter L. Sefzik sold 7,287 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $83.78, for a total transaction of $610,504.86. Following the completion of the transaction, the executive vice president now owns 32,007 shares of the company’s stock, valued at $2,681,546.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.76% of the company’s stock.

Comerica Stock Performance

Shares of CMA stock opened at $78.56 on Friday. The company has a market capitalization of $10.28 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.27 and a beta of 1.27. The business’s 50 day moving average is $80.10 and its two-hundred day moving average is $82.05. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. Comerica Incorporated has a 12-month low of $70.37 and a 12-month high of $102.09.

Comerica (NYSE:CMAGet Rating) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.15. Comerica had a return on equity of 13.63% and a net margin of 30.42%. During the same quarter in the previous year, the company earned $2.32 earnings per share. Analysts expect that Comerica Incorporated will post 8.47 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.46%. Comerica’s payout ratio is currently 39.71%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CMA shares. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. The Goldman Sachs Group cut their target price on Comerica from $104.00 to $93.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st. Wolfe Research lowered their price target on Comerica from $124.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. Piper Sandler boosted their price target on Comerica from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. Finally, Truist Financial dropped their price target on Comerica from $103.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.95.

About Comerica

(Get Rating)

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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:CMAGet Rating).

Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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.