Comerica Incorporated (NYSE:CMA) Shares Sold by Creative Planning

Creative Planning reduced its position in Comerica Incorporated (NYSE:CMA) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,230 shares of the financial services provider’s stock after selling 2,608 shares during the quarter. Creative Planning’s holdings in Comerica were worth $2,770,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CMA. Principal Financial Group Inc. increased its stake in shares of Comerica by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider’s stock worth $8,867,000 after acquiring an additional 1,858 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Comerica by 3.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider’s stock worth $4,793,000 after acquiring an additional 2,580 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Comerica by 7.5% in the 1st quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 356 shares during the last quarter. Mission Wealth Management LP increased its stake in shares of Comerica by 11.3% in the 1st quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 644 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Comerica by 13.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock worth $3,375,000 after acquiring an additional 7,418 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Stock Performance

Shares of CMA opened at $61.77 on Friday. The stock has a 50-day simple moving average of $58.70 and a 200-day simple moving average of $54.07. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $8.19 billion, a PE ratio of 12.28 and a beta of 1.23. Comerica Incorporated has a 1 year low of $37.54 and a 1 year high of $66.06.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter last year, the business posted $1.84 EPS. On average, analysts predict that Comerica Incorporated will post 5.12 earnings per share for the current fiscal year.

Insider Transactions at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP James Harry Weber sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $63.23, for a total value of $410,995.00. Following the transaction, the executive vice president now owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the transaction, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,609 shares of company stock valued at $1,027,839. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $52.00 to $75.00 in a research note on Tuesday, September 24th. Wells Fargo & Company increased their price target on Comerica from $43.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Truist Financial increased their price target on Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Bank of America cut Comerica from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $55.00 to $52.00 in a report on Monday, October 7th. Finally, Morgan Stanley increased their price target on Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Comerica presently has a consensus rating of “Hold” and a consensus target price of $62.57.

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.