Charles Schwab Investment Management Inc. Purchases 115,446 Shares of Comerica Incorporated (NYSE:CMA)

Charles Schwab Investment Management Inc. grew its stake in shares of Comerica Incorporated (NYSE:CMAFree Report) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,294,605 shares of the financial services provider’s stock after purchasing an additional 115,446 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.50% of Comerica worth $136,891,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Almanack Investment Partners LLC. purchased a new stake in shares of Comerica during the third quarter valued at $38,000. Chilton Capital Management LLC purchased a new stake in shares of Comerica during the first quarter valued at $28,000. Deseret Mutual Benefit Administrators boosted its stake in shares of Comerica by 42.8% during the second quarter. Deseret Mutual Benefit Administrators now owns 664 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 199 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Comerica by 40.0% during the second quarter. Geneos Wealth Management Inc. now owns 700 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Finally, Money Concepts Capital Corp purchased a new stake in shares of Comerica during the fourth quarter valued at $50,000. 81.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Comerica

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the transaction, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Comerica Trading Up 0.5 %

Comerica stock opened at $51.35 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 1.03. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $76.16. The stock’s 50 day simple moving average is $53.52 and its two-hundred day simple moving average is $47.79. The firm has a market cap of $6.77 billion, a PE ratio of 7.97 and a beta of 1.29.

Comerica (NYSE:CMAGet Free Report) last released its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.38 by $0.08. Comerica had a return on equity of 19.41% and a net margin of 16.71%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $826.07 million. During the same quarter in the prior year, the firm posted $2.58 EPS. Analysts anticipate that Comerica Incorporated will post 5.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CMA. JPMorgan Chase & Co. downgraded Comerica from an “overweight” rating to a “neutral” rating and set a $57.00 price objective for the company. in a report on Tuesday, December 12th. DA Davidson lifted their price objective on Comerica from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, December 5th. Wells Fargo & Company lifted their price objective on Comerica from $45.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, December 14th. Royal Bank of Canada lifted their price objective on Comerica from $50.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Finally, TheStreet upgraded shares of Comerica from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.98.

View Our Latest Stock Analysis on Comerica

About Comerica

(Free Report)

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, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities.

Featured Stories

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.