Edgestream Partners L.P. Acquires Shares of 25,595 Comerica Incorporated (NYSE:CMA)

Edgestream Partners L.P. bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 25,595 shares of the financial services provider’s stock, valued at approximately $1,306,000.

Other large investors also recently made changes to their positions in the company. Family Firm Inc. bought a new position in shares of Comerica during the second quarter worth approximately $37,000. UMB Bank n.a. increased its stake in Comerica by 39.3% during 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. Versant Capital Management Inc increased its stake in Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 817 shares during the period. Abich Financial Wealth Management LLC increased its stake in Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 300 shares during the period. Finally, Rothschild Investment LLC bought a new position in Comerica during the 2nd quarter worth $56,000. Institutional investors own 80.74% of the company’s stock.

Insider Buying and Selling

In related news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Comerica Trading Up 0.6 %

NYSE CMA opened at $61.49 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a twelve month low of $37.40 and a twelve month high of $61.74. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 12.22 and a beta of 1.23. The business’s fifty day moving average is $55.11 and its 200 day moving average is $52.57.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.30. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period last year, the company earned $2.01 EPS. As a group, sell-side analysts expect that Comerica Incorporated will post 5.05 EPS 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 given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.62%. 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

CMA has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and set a $58.00 price objective on shares of Comerica in a research note on Tuesday, September 10th. Royal Bank of Canada lowered their price objective on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. lowered their price objective on Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Evercore ISI lowered their price objective on Comerica from $58.00 to $54.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group reduced their target price on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.32.

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.