Handelsbanken Fonder AB Sells 8,100 Shares of Comerica Incorporated $CMA

Handelsbanken Fonder AB reduced its position in shares of Comerica Incorporated (NYSE:CMA) by 24.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,300 shares of the financial services provider’s stock after selling 8,100 shares during the period. Handelsbanken Fonder AB’s holdings in Comerica were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gen Wealth Partners Inc acquired a new stake in shares of Comerica during the first quarter worth $34,000. Geneos Wealth Management Inc. increased its position in Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 176 shares during the period. FNY Investment Advisers LLC acquired a new stake in Comerica in the 2nd quarter worth about $35,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Comerica in the 1st quarter valued at about $55,000. Finally, MAI Capital Management boosted its holdings in Comerica by 32.1% in the 1st quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 229 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMA has been the subject of a number of analyst reports. Piper Sandler set a $82.00 price target on shares of Comerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Cantor Fitzgerald began coverage on Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price objective for the company. Wells Fargo & Company increased their target price on Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Truist Financial raised their price target on Comerica from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Finally, Morgan Stanley raised shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective for the company in a research report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.55.

Comerica Price Performance

Shares of CMA stock opened at $80.17 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $83.22. The company has a market cap of $10.24 billion, a P/E ratio of 15.30 and a beta of 1.04. The business has a fifty day simple moving average of $75.78 and a 200 day simple moving average of $67.68.

Comerica (NYSE:CMA) last released its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. The firm had revenue of $824.00 million for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%. On average, sell-side analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, December 15th. Comerica’s dividend payout ratio is currently 54.20%.

Comerica Company 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.