Raymond James & Associates Sells 47,231 Shares of Comerica Incorporated (NYSE:CMA)

Raymond James & Associates trimmed its stake in Comerica Incorporated (NYSE:CMA) by 32.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,002 shares of the financial services provider’s stock after selling 47,231 shares during the period. Raymond James & Associates owned about 0.07% of Comerica worth $5,871,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Comerica during the 3rd quarter worth approximately $36,000. Family Firm Inc. acquired a new stake in shares of Comerica in the second quarter valued at $37,000. UMB Bank n.a. raised its holdings in shares of 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 last quarter. Versant Capital Management Inc lifted its position in Comerica by 2,723.3% during the 2nd 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 in the last quarter. Finally, Abich Financial Wealth Management LLC grew its holdings in 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 acquiring an additional 300 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Down 1.2 %

NYSE:CMA opened at $63.70 on Friday. 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 stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 15.93 and a beta of 1.23. The stock’s fifty day moving average is $59.15 and its two-hundred day moving average is $54.32. Comerica Incorporated has a 52 week low of $38.43 and a 52 week high of $66.06.

Comerica (NYSE:CMA) last announced its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. During the same period last year, the firm posted $1.84 earnings per share. Research analysts anticipate that Comerica Incorporated will post 5.12 EPS for the current year.

Insider Activity at Comerica

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

Analyst Ratings Changes

CMA has been the subject of several research analyst reports. Bank of America cut shares of Comerica from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $55.00 to $52.00 in a research report on Monday, October 7th. Piper Sandler upped their price target on Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and upped their target price for the company from $50.00 to $69.00 in a research report on Thursday, September 5th. Finally, Evercore ISI lifted their price target on shares of Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Comerica presently has an average rating of “Hold” and an average price target of $62.81.

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.