US Bancorp DE Acquires 952 Shares of Comerica Incorporated $CMA

US Bancorp DE grew its holdings in Comerica Incorporated (NYSE:CMAFree Report) by 10.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,403 shares of the financial services provider’s stock after buying an additional 952 shares during the quarter. US Bancorp DE’s holdings in Comerica were worth $621,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Proffitt & Goodson Inc. raised its position in shares of Comerica by 64.1% in the second quarter. Proffitt & Goodson Inc. now owns 1,011 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 395 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Comerica by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 37,000 shares of the financial services provider’s stock valued at $2,207,000 after purchasing an additional 200 shares during the period. Greenwood Capital Associates LLC raised its position in shares of Comerica by 46.7% in the second quarter. Greenwood Capital Associates LLC now owns 24,975 shares of the financial services provider’s stock valued at $1,490,000 after purchasing an additional 7,950 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Comerica by 11.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,580 shares of the financial services provider’s stock valued at $7,133,000 after purchasing an additional 12,407 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Comerica in the second quarter valued at approximately $337,000. Institutional investors own 80.74% of the company’s stock.

Insiders Place Their Bets

In other news, 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Mcgregor Carr sold 4,000 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the sale, the insider directly owned 33,471 shares of the company’s stock, valued at $2,251,928.88. This trade represents a 10.67% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CMA has been the topic of several research reports. Morgan Stanley raised shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price target on the stock in a research report on Tuesday, October 7th. Evercore ISI reduced their price objective on shares of Comerica from $71.00 to $70.00 and set an “underperform” rating for the company in a research note on Tuesday, September 30th. Jefferies Financial Group boosted their price objective on shares of Comerica from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Piper Sandler set a $82.00 price objective on shares of Comerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Royal Bank Of Canada boosted their price objective on shares of Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $71.55.

Check Out Our Latest Research Report on Comerica

Comerica Price Performance

CMA stock opened at $74.85 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96. Comerica Incorporated has a one year low of $48.12 and a one year high of $83.22. The stock has a market cap of $9.62 billion, a PE ratio of 14.28 and a beta of 0.96. The firm has a 50 day simple moving average of $70.93 and a two-hundred day simple moving average of $62.88.

Comerica (NYSE:CMAGet Free Report) last released its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The business had revenue of $824.00 million during the quarter. On average, analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid 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 3.8%. Comerica’s dividend payout ratio is 54.41%.

About Comerica

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comerica Incorporated (NYSE:CMAFree Report).

Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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