Comerica Incorporated (NYSE:CMA) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its holdings in Comerica Incorporated (NYSE:CMAFree Report) by 40.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,921 shares of the financial services provider’s stock after purchasing an additional 39,688 shares during the period. Kingsview Wealth Management LLC owned about 0.11% of Comerica worth $7,753,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Spire Wealth Management boosted its position in Comerica by 95.9% during the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 235 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Comerica in the fourth quarter valued at approximately $36,000. Fortitude Family Office LLC purchased a new position in shares of Comerica in the fourth quarter valued at approximately $36,000. FNY Investment Advisers LLC purchased a new position in shares of Comerica in the fourth quarter valued at approximately $50,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Comerica in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Activity at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Comerica Stock Up 0.6 %

CMA traded up $0.32 on Friday, hitting $54.83. 1,052,982 shares of the company were exchanged, compared to its average volume of 1,572,894. The firm has a 50-day moving average price of $52.42 and a two-hundred day moving average price of $51.01. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a twelve month low of $34.88 and a twelve month high of $57.39. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 10.90 and a beta of 1.27.

Comerica (NYSE:CMAGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same period in the previous year, the company posted $2.39 earnings per share. On average, equities analysts predict that Comerica Incorporated will post 5.16 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.18%. Comerica’s payout ratio is currently 56.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup downgraded Comerica from a “buy” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $56.00 in a research report on Monday, May 6th. Truist Financial decreased their target price on Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Raymond James cut Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Comerica in a report on Wednesday, March 6th. Finally, UBS Group cut their price target on Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.89.

Get Our Latest Research Report on Comerica

Comerica Profile

(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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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