Comerica Incorporated (NYSE:CMA) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,918 shares of the financial services provider’s stock after selling 297 shares during the period. Hancock Whitney Corp’s holdings in Comerica were worth $302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Family Firm Inc. acquired a new position in Comerica in the second quarter worth about $37,000. UMB Bank n.a. grew its position in shares of 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 acquiring an additional 208 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in shares of Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 300 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in Comerica during the second quarter worth $56,000. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

CMA opened at $60.19 on Tuesday. Comerica Incorporated has a 1-year low of $37.40 and a 1-year high of $61.84. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 11.97 and a beta of 1.23. The business has a 50 day moving average price of $55.31 and a two-hundred day moving average price of $52.72. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. During the same period in the previous year, the company earned $2.01 earnings per share. Research analysts predict that Comerica Incorporated will post 5.05 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm 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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio is presently 56.46%.

Insiders Place Their Bets

In other news, EVP Christine M. Moore sold 2,545 shares of the 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 sale, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays lowered their target price on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Stephens reiterated 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 decreased their target price on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. StockNews.com cut Comerica from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Piper Sandler boosted their price objective on Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.