Cetera Investment Advisers Sells 2,681 Shares of Comerica Incorporated (NYSE:CMA)

Cetera Investment Advisers decreased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,156 shares of the financial services provider’s stock after selling 2,681 shares during the period. Cetera Investment Advisers’ holdings in Comerica were worth $1,284,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CMA. LHM Inc. lifted its stake in Comerica by 45.3% during the second quarter. LHM Inc. now owns 43,740 shares of the financial services provider’s stock worth $2,264,000 after purchasing an additional 13,640 shares during the last quarter. Truist Financial Corp bought a new stake in Comerica during the second quarter worth about $318,000. Sunbelt Securities Inc. lifted its stake in Comerica by 400.0% during the second quarter. Sunbelt Securities Inc. now owns 2,500 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 2,000 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Comerica by 58.2% during the second quarter. NewEdge Advisors LLC now owns 36,089 shares of the financial services provider’s stock worth $1,842,000 after purchasing an additional 13,279 shares during the last quarter. Finally, Creative Planning lifted its stake in Comerica by 1.1% during the second quarter. Creative Planning now owns 48,838 shares of the financial services provider’s stock worth $2,493,000 after purchasing an additional 514 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CMA. StockNews.com lowered Comerica from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Piper Sandler lifted their price objective on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Comerica from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Royal Bank of Canada decreased their price objective on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $58.00 price objective on shares of Comerica in a report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.62.

Insider Transactions at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Comerica Stock Performance

Shares of CMA opened at $62.34 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average price is $57.50 and its 200-day moving average price is $53.63. Comerica Incorporated has a 52 week low of $37.40 and a 52 week high of $63.20. The stock has a market cap of $8.27 billion, a P/E ratio of 12.39 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 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 analysts’ expectations of $812.79 million. During the same period in the previous year, the firm posted $2.01 EPS. Equities research analysts anticipate that Comerica Incorporated will post 5.12 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.56%. Comerica’s dividend payout ratio is currently 56.46%.

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.