New York State Teachers Retirement System Buys 12,651 Shares of Comerica Incorporated $CMA

New York State Teachers Retirement System increased its stake in Comerica Incorporated (NYSE:CMA) by 9.4% during the second quarter, Holdings Channel.com reports. The firm owned 147,613 shares of the financial services provider’s stock after purchasing an additional 12,651 shares during the quarter. New York State Teachers Retirement System’s holdings in Comerica were worth $8,805,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in Comerica by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock worth $325,308,000 after purchasing an additional 472,409 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Comerica by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,663,441 shares of the financial services provider’s stock valued at $275,423,000 after acquiring an additional 231,885 shares during the period. Goldman Sachs Group Inc. raised its holdings in Comerica by 9.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock valued at $137,107,000 after acquiring an additional 203,333 shares during the period. Azora Capital LP raised its holdings in Comerica by 53.7% during the first quarter. Azora Capital LP now owns 1,899,198 shares of the financial services provider’s stock valued at $112,167,000 after acquiring an additional 663,513 shares during the period. Finally, Primecap Management Co. CA raised its holdings in Comerica by 228.8% during the first quarter. Primecap Management Co. CA now owns 1,670,110 shares of the financial services provider’s stock valued at $98,637,000 after acquiring an additional 1,162,110 shares during the period. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMA has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on Comerica in a report on Thursday, September 25th. They set a “hold” rating and a $75.00 price target on the stock. Evercore ISI decreased their price target on Comerica from $71.00 to $70.00 and set an “underperform” rating on the stock in a report on Tuesday, September 30th. UBS Group set a $64.00 price target on Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. DA Davidson set a $60.00 price target on Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Jefferies Financial Group raised their price target on Comerica from $75.00 to $85.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Comerica currently has an average rating of “Hold” and a consensus price target of $71.55.

Insider Activity

In related news, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the transaction, the insider owned 33,471 shares in the company, valued at approximately $2,251,928.88. This trade represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $140,763.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Comerica Trading Up 1.4%

Shares of CMA stock opened at $74.85 on Monday. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $83.22. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock’s 50-day moving average price is $70.93 and its 200-day moving average price is $62.88. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 14.28 and a beta of 0.96.

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

Comerica Dividend Announcement

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

Comerica 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.