SVB Wealth LLC Acquires New Shares in Comerica Incorporated (NYSE:CMA)

SVB Wealth LLC acquired a new stake in Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,726 shares of the financial services provider’s stock, valued at approximately $264,000.

Several other large investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Comerica by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,294,605 shares of the financial services provider’s stock valued at $136,891,000 after purchasing an additional 115,446 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Comerica by 4.4% during the third quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider’s stock valued at $128,704,000 after purchasing an additional 130,997 shares in the last quarter. North Reef Capital Management LP boosted its stake in shares of Comerica by 43.0% during the third quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock valued at $119,664,000 after purchasing an additional 865,870 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Comerica by 129.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock valued at $107,716,000 after purchasing an additional 1,088,330 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Comerica by 46.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,462,906 shares of the financial services provider’s stock valued at $60,784,000 after purchasing an additional 461,741 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction 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 owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Comerica Stock Performance

CMA opened at $52.59 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26. The company’s fifty day moving average price is $51.38 and its two-hundred day moving average price is $49.45. Comerica Incorporated has a 1-year low of $28.40 and a 1-year high of $57.39. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 10.46 and a beta of 1.27.

Comerica (NYSE:CMA) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the prior year, the company posted $2.39 earnings per share. On average, analysts expect that Comerica Incorporated will post 5.09 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.40%. Comerica’s payout ratio is 56.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CMA shares. UBS Group cut their price target on Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of Comerica in a research note on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price for the company. Jefferies Financial Group dropped their price target on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Finally, Piper Sandler boosted their price target on shares of Comerica from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.89.

About Comerica

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, payment solutions, card services, 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.