Comerica Incorporated (NYSE:CMA) Holdings Decreased by LHM Inc.

LHM Inc. lowered its position in Comerica Incorporated (NYSE:CMA) by 13.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,045 shares of the financial services provider’s stock after selling 4,055 shares during the quarter. Comerica makes up approximately 0.5% of LHM Inc.’s holdings, making the stock its 15th biggest position. LHM Inc.’s holdings in Comerica were worth $1,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pitcairn Co. lifted its holdings in Comerica by 2.9% during the first quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 190 shares in the last quarter. Texas Permanent School Fund Corp grew its position in shares of Comerica by 0.7% in the first quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock valued at $1,498,000 after purchasing an additional 201 shares during the last quarter. Summit Securities Group LLC grew its position in shares of Comerica by 22.4% in the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 202 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after buying an additional 208 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Comerica by 7.6% in the first quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock valued at $178,000 after buying an additional 230 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Activity at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Comerica Trading Up 2.4 %

Shares of Comerica stock opened at $61.12 on Friday. Comerica Incorporated has a 12-month low of $37.40 and a 12-month high of $61.74. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 12.15 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The company’s 50-day moving average price is $55.01 and its 200-day moving average price is $52.51.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period last year, the firm posted $2.01 earnings per share. On average, equities analysts expect that Comerica Incorporated will post 5.05 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio is currently 56.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their target price on Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, June 12th. Evercore ISI decreased their price objective on Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Stephens reiterated an “overweight” rating and set a $58.00 price target on shares of Comerica in a report on Tuesday, September 10th. Barclays cut their price objective on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Finally, StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Comerica has an average rating of “Hold” and a consensus price target of $55.73.

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.