Kingsview Wealth Management LLC Has $471,000 Stock Position in Comerica Incorporated (NYSE:CMA)

Kingsview Wealth Management LLC reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 23.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,865 shares of the financial services provider’s stock after selling 2,471 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Comerica were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CMA. EverSource Wealth Advisors LLC lifted its stake in shares of Comerica by 19.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $66,000 after buying an additional 199 shares during the period. Summit Securities Group LLC raised its holdings in Comerica by 22.4% in the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 202 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 208 shares during the period. Centennial Wealth Advisory LLC grew its holdings in shares of Comerica by 5.2% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 252 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the period. 80.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Allysun C. Fleming sold 1,392 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the transaction, the executive vice president now directly owns 8,730 shares in the company, valued at $600,885.90. This trade represents a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Harry Weber sold 6,500 shares of Comerica stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $63.23, for a total value of $410,995.00. Following the sale, the executive vice president now directly owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. This trade represents a 29.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,456 shares of company stock valued at $977,287. Company insiders own 0.19% of the company’s stock.

Comerica Stock Down 0.4 %

Shares of CMA opened at $72.32 on Friday. The business’s fifty day moving average price is $63.93 and its two-hundred day moving average price is $56.63. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 18.08 and a beta of 1.22. Comerica Incorporated has a 52 week low of $42.55 and a 52 week high of $73.45. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. Comerica had a return on equity of 12.54% and a net margin of 11.17%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same period last year, the company earned $1.84 earnings per share. On average, analysts predict that Comerica Incorporated will post 5.37 earnings per share for the current year.

Comerica declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 5th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a yield of 3.93%. Comerica’s payout ratio is presently 71.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CMA shares. Truist Financial lifted their price target on shares of Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $52.00 to $75.00 in a report on Tuesday, September 24th. Keefe, Bruyette & Woods raised Comerica from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $50.00 to $69.00 in a report on Thursday, September 5th. Finally, Evercore ISI boosted their price target on Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.10.

Comerica Profile

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.