Swiss National Bank Grows Stake in Comerica Incorporated (NYSE:CMA)

Swiss National Bank lifted its stake in Comerica Incorporated (NYSE:CMAFree Report) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,400 shares of the financial services provider’s stock after buying an additional 3,100 shares during the quarter. Swiss National Bank’s holdings in Comerica were worth $12,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Almanack Investment Partners LLC. bought a new position in shares of Comerica in the third quarter worth about $38,000. Chilton Capital Management LLC bought a new stake in Comerica during the 1st quarter valued at approximately $28,000. Deseret Mutual Benefit Administrators raised its stake in Comerica by 42.8% during the 2nd 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. raised its stake in Comerica by 40.0% during the 2nd 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 bought a new stake in Comerica during the 4th quarter valued at approximately $50,000. Institutional investors own 81.94% of the company’s stock.

Comerica Price Performance

Shares of CMA stock opened at $52.61 on Tuesday. Comerica Incorporated has a 52-week low of $28.40 and a 52-week high of $76.16. 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 firm has a market capitalization of $6.94 billion, a P/E ratio of 8.17 and a beta of 1.29. The stock has a 50 day moving average price of $53.58 and a 200 day moving average price of $47.73.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Comerica from an “overweight” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Tuesday, December 12th. Argus downgraded Comerica from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Bank Of America (Bofa) lifted their target price on Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Wedbush cut Comerica from an “outperform” rating to a “neutral” rating and cut their price target for the company from $47.00 to $45.00 in a report on Friday, November 3rd. Finally, Royal Bank of Canada raised their price target on Comerica from $50.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Three research 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.98.

View Our Latest Report on CMA

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the sale, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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