CoreCap Advisors LLC Purchases New Stake in Comerica Incorporated (NYSE:CMA)

CoreCap Advisors LLC purchased a new stake in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,614 shares of the financial services provider’s stock, valued at approximately $258,000.

Several other large investors have also recently bought and sold shares of CMA. Private Advisor Group LLC raised its position in Comerica by 9.3% during the first quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock valued at $605,000 after buying an additional 568 shares during the period. MetLife Investment Management LLC raised its position in Comerica by 22.7% during the first quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock valued at $3,216,000 after buying an additional 6,590 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Comerica by 6.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock worth $1,581,000 after purchasing an additional 1,024 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Comerica by 8.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock worth $2,626,000 after purchasing an additional 2,163 shares during the last quarter. Finally, Yousif Capital Management LLC increased its position in Comerica by 119.2% in the 1st quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock worth $693,000 after purchasing an additional 4,165 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CMA has been the topic of several research reports. Barclays upped their target price on Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Comerica in a research report on Wednesday, March 6th. Stephens reaffirmed an “overweight” rating and issued a $64.00 target price on shares of Comerica in a research report on Wednesday, March 6th. Wells Fargo & Company upped their target price on Comerica from $45.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday, December 14th. Finally, Morgan Stanley increased their price objective on Comerica from $45.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.93.

Comerica Price Performance

Shares of CMA stock opened at $54.23 on Thursday. The stock has a 50 day moving average of $51.46 and a two-hundred day moving average of $48.07. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39. The company has a market capitalization of $7.18 billion, a P/E ratio of 8.42 and a beta of 1.25.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.08. Comerica had a return on equity of 19.41% and a net margin of 16.71%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $826.07 million. During the same quarter last year, the company earned $2.58 EPS. As a group, equities analysts expect that Comerica Incorporated will post 5.26 EPS for the current year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.24%. Comerica’s dividend payout ratio (DPR) is presently 44.10%.

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.