Amalgamated Bank Reduces Stake in Comerica Incorporated (NYSE:CMA)

Amalgamated Bank lowered its position in Comerica Incorporated (NYSE:CMAGet Rating) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,072 shares of the financial services provider’s stock after selling 2,595 shares during the period. Amalgamated Bank’s holdings in Comerica were worth $3,895,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in Comerica in the first quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Comerica by 51.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,719 shares of the financial services provider’s stock worth $1,602,000 after purchasing an additional 6,052 shares in the last quarter. M Holdings Securities Inc. purchased a new stake in Comerica in the 1st quarter worth approximately $385,000. Advisory Services Network LLC boosted its position in Comerica by 3.5% in the 1st quarter. Advisory Services Network LLC now owns 7,266 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 246 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in Comerica by 7.8% in the 1st quarter. Neuberger Berman Group LLC now owns 1,702,552 shares of the financial services provider’s stock worth $154,093,000 after purchasing an additional 122,515 shares in the last quarter. Hedge funds and other institutional investors own 82.56% of the company’s stock.

Analyst Ratings Changes

CMA has been the topic of several recent research reports. Truist Financial lowered their price objective on Comerica from $103.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, June 15th. Wedbush upped their price objective on Comerica from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, July 21st. JPMorgan Chase & Co. lowered their price objective on Comerica from $108.00 to $97.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, The Goldman Sachs Group reduced their target price on Comerica from $104.00 to $93.00 and set a “neutral” rating for the company in a research note on Tuesday, May 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Comerica currently has an average rating of “Moderate Buy” and a consensus price target of $95.95.

Comerica Stock Down 1.4 %

NYSE CMA opened at $77.75 on Thursday. Comerica Incorporated has a one year low of $70.71 and a one year high of $102.09. The company has a market cap of $10.17 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.26 and a beta of 1.27. The business has a fifty day moving average price of $80.41 and a 200 day moving average price of $81.85. 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 (NYSE:CMAGet Rating) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm posted $2.32 earnings per share. Research analysts anticipate that Comerica Incorporated will post 8.47 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Wednesday, September 14th. Comerica’s dividend payout ratio (DPR) is presently 39.71%.

Insiders Place Their Bets

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

Comerica Company 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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