Comerica Incorporated (NYSE:CMA) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of Comerica Incorporated (NYSE:CMA) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,431,750 shares of the financial services provider’s stock after acquiring an additional 87,101 shares during the period. Thrivent Financial for Lutherans owned about 1.08% of Comerica worth $73,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Family Firm Inc. purchased a new stake in Comerica during the second quarter worth $37,000. UMB Bank n.a. grew its holdings 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 purchasing an additional 208 shares during the period. Versant Capital Management Inc lifted its position in shares of Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in Comerica by 50.2% in 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 during the period. Finally, Summit Securities Group LLC increased its stake in shares of Comerica by 22.4% during the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 202 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Comerica

In other 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 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 $1,605,104.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CMA. Truist Financial boosted their price objective on Comerica from $53.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday. Barclays dropped their target price 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. DA Davidson reissued a “neutral” rating and issued a $55.00 price target on shares of Comerica in a research note on Tuesday, September 10th. Piper Sandler boosted their price target on shares of Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company cut 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. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.32.

Comerica Price Performance

Shares of CMA opened at $61.49 on Friday. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 12.22 and a beta of 1.23. The firm’s fifty day simple moving average is $55.23 and its 200-day simple moving average is $52.66. 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 Incorporated has a twelve month low of $37.40 and a twelve month high of $61.74.

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

Comerica Dividend Announcement

The company also recently disclosed 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. This represents a $2.84 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s 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.