Strs Ohio Buys 7,754 Shares of Comerica Incorporated $CMA

Strs Ohio increased its holdings in Comerica Incorporated (NYSE:CMA) by 39.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,627 shares of the financial services provider’s stock after acquiring an additional 7,754 shares during the period. Strs Ohio’s holdings in Comerica were worth $1,648,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Comerica by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock valued at $325,308,000 after acquiring an additional 472,409 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Comerica by 5.2% in 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 in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Comerica by 9.6% in 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 in the last quarter. Azora Capital LP grew its holdings in shares of Comerica by 53.7% in 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 in the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Comerica by 228.8% in 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 in the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Trading Up 1.5%

NYSE:CMA opened at $77.33 on Wednesday. The company has a market cap of $9.88 billion, a P/E ratio of 14.76 and a beta of 0.96. The stock’s fifty day moving average price is $73.10 and its two-hundred day moving average price is $65.07. Comerica Incorporated has a 1 year low of $48.12 and a 1 year high of $83.22. 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 (NYSE:CMA) last posted its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. The firm had revenue of $824.00 million for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%. As a group, analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Insider Buying and Selling at Comerica

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the sale, the insider owned 33,471 shares in the company, valued at $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.03, for a total value of $140,763.00. Following the sale, the executive vice president owned 9,424 shares in the company, valued at approximately $631,690.72. This represents a 18.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

CMA has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 target price for the company. Raymond James Financial reiterated a “market perform” rating on shares of Comerica in a research note on Tuesday, July 8th. Weiss Ratings downgraded Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. UBS Group set a $64.00 price objective on Comerica and gave the company a “neutral” rating in a research note on Monday, July 21st. Finally, Morgan Stanley upgraded Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective on the stock in a research note on Tuesday, October 7th. Three analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $74.55.

About Comerica

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.