Comprehensive Financial Consultants Institutional Inc. Has $210,000 Stock Holdings in Comerica Incorporated $CMA

Comprehensive Financial Consultants Institutional Inc. decreased its position in Comerica Incorporated (NYSE:CMA) by 20.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,520 shares of the financial services provider’s stock after selling 917 shares during the period. Comprehensive Financial Consultants Institutional Inc.’s holdings in Comerica were worth $210,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Primecap Management Co. CA lifted its position in Comerica by 228.8% in the first 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 period. Azora Capital LP lifted its holdings 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 acquiring an additional 663,513 shares during the period. Kodai Capital Management LP acquired a new stake in shares of Comerica during the 1st quarter valued at about $32,864,000. Dimensional Fund Advisors LP increased its stake in 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 acquiring an additional 472,409 shares during the period. Finally, Invesco Ltd. raised its position in Comerica by 48.7% in the first quarter. Invesco Ltd. now owns 1,183,213 shares of the financial services provider’s stock worth $69,881,000 after purchasing an additional 387,527 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Price Performance

Shares of CMA stock opened at $80.19 on Tuesday. Comerica Incorporated has a 52 week low of $48.12 and a 52 week high of $83.22. The stock has a market capitalization of $10.31 billion, a PE ratio of 15.36, a PEG ratio of 12.64 and a beta of 0.96. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s fifty day moving average is $69.04 and its 200-day moving average is $61.69.

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

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.5%. Comerica’s dividend payout ratio (DPR) is currently 54.41%.

Insider Activity at Comerica

In other news, insider James Mcgregor Carr sold 4,000 shares of the business’s 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 sale, the insider owned 33,471 shares in the company, valued at $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 9,424 shares in the company, valued at $631,690.72. This trade represents a 18.22% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CMA. Cantor Fitzgerald initiated coverage on Comerica in a report on Wednesday, September 10th. They set a “neutral” rating and a $72.00 price objective on the stock. DA Davidson set a $60.00 price target on Comerica and gave the company a “neutral” rating in a research note on Monday, July 21st. Citigroup increased their price objective on Comerica from $54.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of Comerica from $52.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Finally, Cowen initiated coverage on shares of Comerica in a report on Wednesday, September 24th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $67.80.

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.