Comerica Incorporated $CMA Shares Acquired by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lifted its holdings in shares of Comerica Incorporated (NYSE:CMA) by 46.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,975 shares of the financial services provider’s stock after buying an additional 7,950 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Comerica were worth $1,490,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of Comerica by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock worth $325,308,000 after buying an additional 472,409 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Comerica by 5.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,663,441 shares of the financial services provider’s stock worth $275,423,000 after buying an additional 231,885 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Comerica by 9.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock worth $137,107,000 after buying an additional 203,333 shares during the period. Azora Capital LP raised its stake in shares of Comerica by 53.7% during the 1st quarter. Azora Capital LP now owns 1,899,198 shares of the financial services provider’s stock worth $112,167,000 after buying an additional 663,513 shares during the period. Finally, Primecap Management Co. CA raised its stake in shares of Comerica by 228.8% during the 1st quarter. Primecap Management Co. CA now owns 1,670,110 shares of the financial services provider’s stock worth $98,637,000 after buying an additional 1,162,110 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Comerica in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price objective for the company. Morgan Stanley increased their price objective on Comerica from $61.00 to $76.00 and gave the company an “underweight” rating in a research note on Monday. Jefferies Financial Group increased their price objective on Comerica from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, September 3rd. Keefe, Bruyette & Woods increased their price objective on Comerica from $69.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, Citigroup increased their price objective on Comerica from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $67.05.

Comerica Stock Up 1.6%

Shares of NYSE:CMA opened at $70.17 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $68.78 and a two-hundred day moving average of $61.43. The stock has a market cap of $9.02 billion, a P/E ratio of 13.44, a PEG ratio of 12.38 and a beta of 0.96. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $73.45.

Comerica (NYSE:CMA) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.19. The company had revenue of $849.00 million during the quarter, compared to analysts’ expectations of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%.During the same period in the prior year, the business earned $1.49 EPS. On average, research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued a dividend of $0.71 per share. The ex-dividend date was Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.0%. Comerica’s dividend payout ratio is currently 54.41%.

Insiders Place Their Bets

In other news, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the transaction, the insider directly owned 33,471 shares in the company, valued at approximately $2,251,928.88. This represents a 10.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president owned 9,424 shares of the company’s stock, valued at approximately $631,690.72. This represents a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

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.