MeadowBrook Investment Advisors LLC Acquires 220 Shares of Comerica Incorporated $CMA

MeadowBrook Investment Advisors LLC lifted its holdings in Comerica Incorporated (NYSE:CMA) by 5.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,596 shares of the financial services provider’s stock after purchasing an additional 220 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Comerica were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Comerica by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock valued at $325,308,000 after buying an additional 472,409 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 231,885 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in 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 purchasing an additional 203,333 shares during the last quarter. Azora Capital LP raised its holdings in 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 purchasing an additional 663,513 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in 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 purchasing an additional 1,162,110 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Stock Performance

Shares of CMA stock opened at $76.70 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $9.86 billion, a PE ratio of 14.64 and a beta of 0.96. The stock has a 50-day moving average of $72.45 and a 200-day moving average of $64.31. Comerica Incorporated has a one year low of $48.12 and a one year high of $83.22.

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

Insider Activity at Comerica

In related news, insider James Mcgregor Carr sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.28, for a total value 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. The trade was a 10.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the completion of the transaction, the executive vice president owned 9,424 shares of the company’s stock, valued at $631,690.72. This represents a 18.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on CMA shares. TD Cowen started coverage on Comerica in a report on Thursday, September 25th. They set a “hold” rating and a $75.00 price objective for the company. UBS Group set a $64.00 price objective on Comerica and gave the stock a “neutral” rating in a report on Monday, July 21st. Cantor Fitzgerald started coverage on Comerica in a report on Wednesday, September 10th. They set a “neutral” rating and a $72.00 price objective for the company. Truist Financial boosted their price objective on Comerica from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Finally, Weiss Ratings cut Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Three analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Comerica has a consensus rating of “Hold” and an average target price of $73.65.

About Comerica

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.