Comerica Incorporated (NYSE:CMA) Position Decreased by Moody National Bank Trust Division

Moody National Bank Trust Division decreased its holdings in shares of Comerica Incorporated (NYSE:CMAGet Rating) by 54.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,310 shares of the financial services provider’s stock after selling 8,687 shares during the period. Moody National Bank Trust Division’s holdings in Comerica were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Citigroup Inc. lifted its stake in Comerica by 13.6% during the fourth quarter. Citigroup Inc. now owns 94,744 shares of the financial services provider’s stock valued at $8,243,000 after buying an additional 11,358 shares in the last quarter. MAI Capital Management purchased a new stake in Comerica during the fourth quarter valued at about $235,000. Ensign Peak Advisors Inc lifted its stake in Comerica by 9.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 15,110 shares of the financial services provider’s stock valued at $1,315,000 after buying an additional 1,286 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Comerica by 18.4% during the fourth quarter. Eagle Asset Management Inc. now owns 164,072 shares of the financial services provider’s stock valued at $14,277,000 after buying an additional 25,534 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. lifted its stake in Comerica by 49.7% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 3,278 shares of the financial services provider’s stock valued at $285,000 after buying an additional 1,089 shares in the last quarter. Institutional investors own 82.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CMA shares. Truist Financial reduced their price objective on shares of Comerica from $103.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, June 15th. TheStreet raised shares of Comerica from a “c+” rating to a “b-” rating in a research report on Friday, August 12th. Wells Fargo & Company reduced their price target on shares of Comerica from $82.00 to $77.00 and set an “underweight” rating for the company in a research report on Friday, July 1st. Piper Sandler increased their price target on shares of Comerica from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. Finally, B. Riley reduced their price target on shares of Comerica from $90.00 to $80.00 in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Comerica has a consensus rating of “Moderate Buy” and an average target price of $95.95.

Comerica Price Performance

Shares of CMA opened at $78.56 on Monday. The firm has a market cap of $10.28 billion, a PE ratio of 11.47, a PEG ratio of 1.25 and a beta of 1.27. The firm’s 50 day moving average price is $80.10 and its 200 day moving average price is $81.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.84. Comerica Incorporated has a twelve month low of $70.37 and a twelve month high of $102.09.

Comerica (NYSE:CMAGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate 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 prior year, the firm earned $2.32 EPS. As a group, research analysts expect that Comerica Incorporated will post 8.47 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared 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 is Wednesday, September 14th. This represents a $2.72 annualized dividend and a yield of 3.46%. Comerica’s dividend payout ratio (DPR) is presently 39.71%.

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 transaction, the executive vice president now owns 32,007 shares in the company, valued at $2,681,546.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.76% of the company’s stock.

Comerica Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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