4,570 Shares in Comerica Incorporated (NYSE:CMA) Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. purchased a new stake in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,570 shares of the financial services provider’s stock, valued at approximately $255,000.

Other large investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Comerica by 129.3% during the 4th 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 during the last quarter. North Reef Capital Management LP grew 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 buying an additional 865,870 shares during the last quarter. rhino investment partners Inc increased its holdings in shares of Comerica by 684.2% in the third quarter. rhino investment partners Inc now owns 744,956 shares of the financial services provider’s stock worth $30,953,000 after buying an additional 649,956 shares during the period. Artemis Investment Management LLP bought a new stake in shares of Comerica in the 4th quarter valued at about $31,018,000. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Comerica by 46.1% during the 3rd 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 acquiring an additional 461,741 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on Comerica in a research report on Wednesday, April 10th. They issued a “hold” rating and a $59.00 price objective for the company. Royal Bank of Canada increased their price target on shares of Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Stephens restated an “overweight” rating and issued a $64.00 price objective on shares of Comerica in a research report on Friday, April 19th. Piper Sandler increased their target price on shares of Comerica from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Evercore ISI raised their target price on Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.98.

Comerica Stock Up 2.3 %

Shares of CMA traded up $1.20 during mid-day trading on Friday, reaching $53.07. The company had a trading volume of 1,914,592 shares, compared to its average volume of 1,788,897. Comerica Incorporated has a 52 week low of $28.40 and a 52 week high of $57.39. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 10.55 and a beta of 1.27. The firm has a 50-day moving average price of $51.69 and a 200 day moving average price of $50.06.

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, 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 period last year, the business earned $2.39 EPS. On average, sell-side analysts forecast that Comerica Incorporated will post 5.16 EPS for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued 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 5.35%. Comerica’s payout ratio is currently 56.46%.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

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.