Great Lakes Advisors LLC Sells 152,216 Shares of Comerica Incorporated $CMA

Great Lakes Advisors LLC reduced its holdings in Comerica Incorporated (NYSE:CMA) by 56.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,785 shares of the financial services provider’s stock after selling 152,216 shares during the quarter. Great Lakes Advisors LLC’s holdings in Comerica were worth $8,002,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Comerica by 466.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock valued at $499,615,000 after purchasing an additional 6,003,703 shares during the period. Norges Bank acquired a new position in shares of Comerica during the second quarter worth approximately $97,138,000. Primecap Management Co. CA boosted its position in shares of Comerica by 55.3% in the second quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock valued at $154,720,000 after acquiring an additional 923,690 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Comerica in the second quarter worth $31,365,000. Finally, Qube Research & Technologies Ltd bought a new position in Comerica during the second quarter worth $12,477,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Trading Up 0.1%

CMA stock opened at $92.82 on Friday. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $99.41. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $88.13 and its 200-day moving average is $77.32. The firm has a market cap of $11.86 billion, a P/E ratio of 17.55 and a beta of 1.03.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.28 by $0.18. Comerica had a return on equity of 10.74% and a net margin of 15.07%.The business had revenue of $850.00 million for the quarter, compared to analyst estimates of $851.32 million. During the same quarter in the previous year, the firm earned $1.20 EPS. Equities analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Monday, December 15th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, December 15th. Comerica’s payout ratio is currently 53.69%.

Insider Transactions at Comerica

In other Comerica news, insider James Mcgregor Carr sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $98.06, for a total transaction of $980,600.00. Following the sale, the insider directly owned 23,959 shares of the company’s stock, valued at approximately $2,349,419.54. This represents a 29.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Harry Weber sold 8,798 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $98.04, for a total transaction of $862,555.92. Following the sale, the executive vice president directly owned 20,543 shares of the company’s stock, valued at approximately $2,014,035.72. The trade was a 29.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 27,662 shares of company stock valued at $2,680,538. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CMA has been the topic of several research analyst reports. UBS Group upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $93.00 target price (up from $73.00) on shares of Comerica in a research report on Friday, October 10th. Wells Fargo & Company upped their price target on Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Comerica in a report on Wednesday, January 21st. Finally, Evercore ISI set a $89.00 price objective on Comerica in a research report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.56.

Comerica Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.