US Bancorp DE Has $621,000 Stock Holdings in Comerica Incorporated $CMA

US Bancorp DE boosted its stake in Comerica Incorporated (NYSE:CMA) by 10.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,403 shares of the financial services provider’s stock after purchasing an additional 952 shares during the quarter. US Bancorp DE’s holdings in Comerica were worth $621,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Proffitt & Goodson Inc. lifted its stake 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 buying an additional 395 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake 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 buying an additional 200 shares in the last quarter. Greenwood Capital Associates LLC lifted its stake 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 buying an additional 7,950 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 buying an additional 12,407 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Comerica in the second quarter valued at $337,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI dropped their price objective on shares of Comerica from $71.00 to $70.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 30th. Cantor Fitzgerald assumed coverage on shares of Comerica in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price objective on the stock. Cowen assumed coverage on shares of Comerica in a research note on Wednesday, September 24th. They issued a “hold” rating on the stock. Royal Bank Of Canada raised 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. Finally, Jefferies Financial Group raised 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. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.55.

Comerica Stock Up 1.4%

CMA 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. The company’s 50-day moving average is $70.93 and its 200 day moving average is $62.88. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $83.22. The firm has a market capitalization of $9.62 billion, a P/E ratio of 14.28 and a beta of 0.96.

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

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 3.8%. Comerica’s payout ratio is currently 54.41%.

Insider Activity

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.28, for a total value of $269,120.00. Following the sale, the insider owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the sale, the executive vice president directly owned 9,424 shares in the company, valued at approximately $631,690.72. This 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.

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.