International Private Wealth Advisors LLC Lowers Position in Comerica Incorporated (NYSE:CMA)

International Private Wealth Advisors LLC trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,222 shares of the financial services provider’s stock after selling 177 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Comerica were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Texas Permanent School Fund Corp raised its position in Comerica by 0.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock worth $1,498,000 after purchasing an additional 201 shares during the period. Swiss National Bank boosted its holdings in Comerica by 0.3% during the 1st quarter. Swiss National Bank now owns 260,500 shares of the financial services provider’s stock valued at $14,325,000 after acquiring an additional 800 shares during the period. Concurrent Investment Advisors LLC bought a new position in Comerica during the 1st quarter worth approximately $233,000. Russell Investments Group Ltd. lifted its position in Comerica by 15.3% in the first quarter. Russell Investments Group Ltd. now owns 223,983 shares of the financial services provider’s stock valued at $12,315,000 after purchasing an additional 29,640 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Comerica by 3.8% during the first quarter. US Bancorp DE now owns 9,067 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 336 shares during the period. 80.74% of the stock is currently owned by institutional investors.

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 transaction, the executive vice president now owns 8,730 shares in the company, valued at $600,885.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the completion of the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bruce Mitchell sold 7,564 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total value of $470,480.80. Following the completion of the transaction, the executive vice president now directly owns 16,428 shares in the company, valued at approximately $1,021,821.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,001 shares of company stock valued at $1,123,650. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on CMA. Royal Bank of Canada lowered their price objective on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Truist Financial increased their price objective on Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Stephens boosted their target price on Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Evercore ISI raised their price target on Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their price target on shares of Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Three investment 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.81.

Comerica Stock Performance

Shares of NYSE CMA traded up $0.64 during trading on Thursday, reaching $70.87. 86,179 shares of the company traded hands, compared to its average volume of 2,126,763. The firm has a 50 day simple moving average of $61.31 and a 200-day simple moving average of $55.41. Comerica Incorporated has a 52-week low of $42.55 and a 52-week high of $71.63. The stock has a market capitalization of $9.32 billion, a PE ratio of 17.56 and a beta of 1.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.97.

Comerica (NYSE:CMA) last issued its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same quarter last year, the company posted $1.84 earnings per share. Equities research analysts anticipate that Comerica Incorporated will post 5.39 earnings per share for the current year.

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

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, December 13th. Comerica’s payout ratio is currently 71.00%.

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.