Comerica Incorporated (NYSE:CMA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in Comerica Incorporated (NYSE:CMAFree Report) by 11.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 138,952 shares of the financial services provider’s stock after selling 18,040 shares during the quarter. New York State Common Retirement Fund’s holdings in Comerica were worth $5,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CMA. Private Advisor Group LLC increased its holdings in shares of Comerica by 9.3% in the 1st quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 568 shares during the last quarter. MetLife Investment Management LLC grew its stake in Comerica by 22.7% during the 1st quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock worth $3,216,000 after buying an additional 6,590 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Comerica by 6.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock worth $1,581,000 after buying an additional 1,024 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Comerica by 8.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock worth $2,626,000 after buying an additional 2,163 shares during the last quarter. Finally, Yousif Capital Management LLC grew its stake in Comerica by 119.2% during the 1st quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock worth $693,000 after buying an additional 4,165 shares during the last quarter. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CMA shares. Keefe, Bruyette & Woods decreased their price objective on Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Bank Of America (Bofa) raised their price target on Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Morgan Stanley raised their price target on Comerica from $45.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group raised Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price target for the company in a report on Thursday, January 4th. Finally, Truist Financial reduced their price target on Comerica from $49.00 to $43.00 and set a “buy” rating for the company in a report on Monday, October 23rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.98.

Check Out Our Latest Stock Analysis on Comerica

Comerica Stock Performance

Comerica stock opened at $51.35 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.92 and a current ratio of 0.94. The stock has a fifty day moving average of $53.52 and a two-hundred day moving average of $47.77. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 7.97 and a beta of 1.29. Comerica Incorporated has a fifty-two week low of $28.40 and a fifty-two week high of $76.16.

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

Insider Activity

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica 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 sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at $454,276.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.76% of the company’s stock.

Comerica 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.

Further Reading

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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