Comerica Incorporated (NYSE:CMA) Shares Sold by Telemus Capital LLC

Telemus Capital LLC reduced its position in shares of Comerica Incorporated (NYSE:CMA) by 13.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,521 shares of the financial services provider’s stock after selling 1,654 shares during the period. Telemus Capital LLC’s holdings in Comerica were worth $587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CMA. Fortitude Family Office LLC bought a new position in Comerica during the fourth quarter valued at about $36,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Comerica during the fourth quarter valued at $36,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Comerica during the third quarter valued at $47,000. FNY Investment Advisers LLC purchased a new stake in shares of Comerica during the fourth quarter valued at $50,000. Finally, CVA Family Office LLC purchased a new stake in shares of Comerica during the fourth quarter valued at $56,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Stock Performance

CMA opened at $52.59 on Tuesday. The firm has a market capitalization of $6.97 billion, a P/E ratio of 10.46 and a beta of 1.27. The stock’s 50 day moving average price is $51.38 and its two-hundred day moving average price is $49.45. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $57.39.

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

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.40%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Insider Activity

In other news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction on Monday, February 12th. The stock was 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 directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 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 $454,276.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CMA. DA Davidson reissued a “neutral” rating and issued a $56.00 price objective on shares of Comerica in a research note on Wednesday, March 6th. Truist Financial reduced their price objective on Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday. TheStreet raised Comerica from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Royal Bank of Canada increased their price objective on Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 price target on shares of Comerica in a research note on Monday. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average target price of $56.89.

Comerica Company 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.