Comerica Incorporated (NYSE:CMA) Shares Bought by Atomi Financial Group Inc.

Atomi Financial Group Inc. grew its position in shares of Comerica Incorporated (NYSE:CMA) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,000 shares of the financial services provider’s stock after purchasing an additional 354 shares during the period. Atomi Financial Group Inc.’s holdings in Comerica were worth $247,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CMA. Mercer Global Advisors Inc. ADV raised its stake in shares of Comerica by 11.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,079 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 749 shares during the period. Sei Investments Co. increased its stake in shares of Comerica by 198.4% in the second quarter. Sei Investments Co. now owns 117,572 shares of the financial services provider’s stock worth $6,001,000 after buying an additional 78,176 shares during the last quarter. Algert Global LLC increased its stake in shares of Comerica by 33.7% in the second quarter. Algert Global LLC now owns 77,306 shares of the financial services provider’s stock worth $3,946,000 after buying an additional 19,500 shares during the last quarter. Creative Planning increased its stake in shares of Comerica by 1.1% in the second quarter. Creative Planning now owns 48,838 shares of the financial services provider’s stock worth $2,493,000 after buying an additional 514 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Comerica by 58.2% in the second quarter. NewEdge Advisors LLC now owns 36,089 shares of the financial services provider’s stock worth $1,842,000 after buying an additional 13,279 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Price Performance

NYSE CMA opened at $63.26 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a market cap of $8.32 billion, a PE ratio of 12.60 and a beta of 1.26. The stock’s 50-day moving average price is $65.56 and its two-hundred day moving average price is $61.01.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the previous year, the business earned $1.46 EPS. On average, analysts predict that Comerica Incorporated will post 5.36 EPS for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Friday, December 13th. Comerica’s dividend payout ratio is presently 56.57%.

Comerica announced that its board has initiated a share repurchase program on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on CMA. Truist Financial upgraded shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Piper Sandler boosted their price target on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised shares of Comerica from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $51.00 to $73.00 in a report on Friday, November 15th. DA Davidson reduced their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday. Finally, StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.33.

Insider Buying and Selling at Comerica

In other news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the sale, the executive vice president now directly owns 8,730 shares of the company’s stock, valued at $600,885.90. This represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

About Comerica

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.