American Century Companies Inc. Has $12.53 Million Position in Comerica Incorporated (NYSE:CMA)

American Century Companies Inc. increased its stake in shares of Comerica Incorporated (NYSE:CMA) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,465 shares of the financial services provider’s stock after purchasing an additional 17,135 shares during the quarter. American Century Companies Inc. owned approximately 0.19% of Comerica worth $12,529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Family Firm Inc. acquired a new position in shares of Comerica during the second quarter worth $37,000. UMB Bank n.a. increased its holdings in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 208 shares in the last quarter. Versant Capital Management Inc raised its position in Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Comerica during the second quarter worth about $56,000. 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 dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CMA has been the subject of a number of research reports. Barclays dropped their price objective on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Monday, July 22nd. StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday, September 16th. DA Davidson reissued a “neutral” rating and issued a $55.00 price objective on shares of Comerica in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods raised Comerica from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $69.00 in a research report on Thursday, September 5th. Finally, Robert W. Baird reduced their price target on Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Two investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.32.

Comerica Price Performance

CMA stock opened at $61.49 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50-day simple moving average of $55.23 and a two-hundred day simple moving average of $52.66. The company has a market capitalization of $8.15 billion, a P/E ratio of 12.22 and a beta of 1.23. Comerica Incorporated has a 52-week low of $37.40 and a 52-week high of $61.74.

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, beating the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. During the same quarter in the previous year, the firm earned $2.01 earnings per share. Research analysts expect that Comerica Incorporated will post 5.05 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.71 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.62%. Comerica’s dividend payout ratio is currently 56.46%.

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.