Comerica Incorporated (NYSE:CMA) Stock Holdings Raised by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its stake in Comerica Incorporated (NYSE:CMAFree Report) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,505 shares of the financial services provider’s stock after acquiring an additional 1,786 shares during the period. Oppenheimer & Co. Inc.’s holdings in Comerica were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Comerica by 2.4% during the first quarter. Vanguard Group Inc. now owns 15,871,102 shares of the financial services provider’s stock valued at $1,435,224,000 after acquiring an additional 366,188 shares during the period. BlackRock Inc. raised its holdings in shares of Comerica by 2.2% during the second quarter. BlackRock Inc. now owns 13,606,533 shares of the financial services provider’s stock valued at $576,373,000 after acquiring an additional 292,535 shares during the period. State Street Corp raised its holdings in shares of Comerica by 3.9% during the third quarter. State Street Corp now owns 7,675,947 shares of the financial services provider’s stock valued at $550,764,000 after acquiring an additional 284,884 shares during the period. First Trust Advisors LP raised its holdings in shares of Comerica by 1,192.2% during the first quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock valued at $168,405,000 after acquiring an additional 3,578,355 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Comerica by 5.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,179,159 shares of the financial services provider’s stock valued at $134,669,000 after acquiring an additional 158,801 shares during the period. 81.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Comerica

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CMA shares. Keefe, Bruyette & Woods lowered their price objective on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Stephens reaffirmed an “overweight” rating and set a $54.00 price objective on shares of Comerica in a research report on Tuesday, December 5th. Piper Sandler lowered their price objective on shares of Comerica from $48.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, October 23rd. Bank Of America (Bofa) boosted their price objective on shares of Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, The Goldman Sachs Group raised shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price for the company in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Comerica has a consensus rating of “Hold” and a consensus target price of $55.98.

Read Our Latest Analysis on CMA

Comerica Price Performance

NYSE CMA 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. The company has a fifty day simple moving average of $53.52 and a 200 day simple moving average of $47.79. The company has a market cap of $6.77 billion, a P/E ratio of 7.97 and a beta of 1.29. Comerica Incorporated has a 1 year low of $28.40 and a 1 year high of $76.16.

Comerica (NYSE:CMAGet Free Report) last released its earnings results on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.38 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period in the prior year, the company earned $2.58 EPS. On average, sell-side analysts predict that Comerica Incorporated will post 5.36 EPS for the current year.

Comerica Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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