PL Capital Advisors LLC Lowers Position in Comerica Incorporated (NYSE:CMA)

PL Capital Advisors LLC decreased its stake in Comerica Incorporated (NYSE:CMA) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,600 shares of the financial services provider’s stock after selling 6,000 shares during the period. Comerica makes up 1.5% of PL Capital Advisors LLC’s investment portfolio, making the stock its 20th largest holding. PL Capital Advisors LLC owned 0.06% of Comerica worth $4,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of Comerica during the fourth quarter worth about $36,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Comerica during the fourth quarter worth approximately $36,000. Authentikos Wealth Advisory LLC purchased a new stake in Comerica during the third quarter worth approximately $47,000. FNY Investment Advisers LLC acquired a new position in shares of Comerica during the fourth quarter worth $50,000. Finally, CVA Family Office LLC acquired a new position in shares of Comerica during the fourth quarter worth $56,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at $380,541.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The disclosure for this sale can be found here. Insiders have sold a total of 11,921 shares of company stock valued at $630,693 over the last quarter. 0.19% of the stock is owned by company insiders.

Comerica Stock Down 0.2 %

Comerica stock opened at $52.07 on Friday. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of 10.35 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. Comerica Incorporated has a fifty-two week low of $28.40 and a fifty-two week high of $57.39. The firm has a fifty day moving average price of $51.54 and a two-hundred day moving average price of $49.72.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the prior year, the business earned $2.39 earnings per share. As a group, analysts forecast that Comerica Incorporated will post 5.16 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.45%. Comerica’s payout ratio is currently 56.46%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James cut shares of Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. DA Davidson reissued a “neutral” rating and set a $56.00 target price on shares of Comerica in a report on Wednesday, March 6th. UBS Group dropped their price target on Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. The Goldman Sachs Group upgraded shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price objective on the stock in a research report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.98.

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.