Creative Planning Has $2.49 Million Position in Comerica Incorporated (NYSE:CMA)

Creative Planning raised its holdings in Comerica Incorporated (NYSE:CMA) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,838 shares of the financial services provider’s stock after acquiring an additional 514 shares during the quarter. Creative Planning’s holdings in Comerica were worth $2,493,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Family Firm Inc. acquired a new position in shares of Comerica in the 2nd quarter valued at $37,000. UMB Bank n.a. lifted its stake in 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. Versant Capital Management Inc boosted its holdings in Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after buying an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC grew 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 worth $49,000 after buying an additional 300 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Comerica in the 2nd quarter valued at about $56,000. Institutional investors and hedge funds 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 company’s stock in a transaction dated Friday, August 23rd. The shares were 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 of the company’s stock, valued at $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Comerica Price Performance

Shares of CMA opened at $58.86 on Friday. The company’s fifty day simple moving average is $56.31 and its 200 day simple moving average is $53.21. Comerica Incorporated has a 1-year low of $37.40 and a 1-year high of $61.84. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 11.70 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.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 19th. The financial services provider reported $1.49 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 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 quarter in the previous year, the firm posted $2.01 EPS. On average, research analysts forecast that Comerica Incorporated will post 5.06 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Friday, September 13th. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CMA shares. Wells Fargo & Company decreased their price objective on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a report on Wednesday, June 12th. Robert W. Baird lowered their price objective on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $50.00 to $69.00 in a report on Thursday, September 5th. Barclays lowered their price target on Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Monday, July 22nd. Finally, Truist Financial raised their target price on shares of Comerica from $53.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.81.

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.