King Luther Capital Management Corp Sells 10,536 Shares of Comerica Incorporated $CMA

King Luther Capital Management Corp cut its stake in shares of Comerica Incorporated (NYSE:CMA) by 2.3% during the third quarter, HoldingsChannel.com reports. The fund owned 440,495 shares of the financial services provider’s stock after selling 10,536 shares during the quarter. King Luther Capital Management Corp’s holdings in Comerica were worth $30,183,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Comerica by 466.2% in the third quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock worth $499,615,000 after purchasing an additional 6,003,703 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Comerica by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,741,310 shares of the financial services provider’s stock worth $282,819,000 after buying an additional 77,869 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Comerica by 55.3% during the second quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock valued at $154,720,000 after buying an additional 923,690 shares during the period. Geode Capital Management LLC increased its stake in shares of Comerica by 3.0% during the second quarter. Geode Capital Management LLC now owns 2,579,763 shares of the financial services provider’s stock valued at $153,905,000 after buying an additional 73,971 shares during the period. Finally, Azora Capital LP raised its holdings in shares of Comerica by 8.7% in the second quarter. Azora Capital LP now owns 2,063,920 shares of the financial services provider’s stock valued at $123,113,000 after acquiring an additional 164,722 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Insider Activity

In related news, insider James Mcgregor Carr sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $98.06, for a total value of $980,600.00. Following the completion of the transaction, the insider directly owned 23,959 shares of the company’s stock, valued at $2,349,419.54. This trade represents a 29.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allysun C. Fleming sold 8,864 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $94.47, for a total transaction of $837,382.08. Following the transaction, the executive vice president owned 4,785 shares in the company, valued at $452,038.95. The trade was a 64.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,662 shares of company stock worth $2,680,538 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Comerica Price Performance

NYSE CMA opened at $90.98 on Thursday. The firm’s fifty day simple moving average is $90.69 and its two-hundred day simple moving average is $79.87. The firm has a market capitalization of $11.63 billion, a P/E ratio of 17.20 and a beta of 1.04. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $99.41.

Comerica (NYSE:CMA) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.18. Comerica had a return on equity of 10.74% and a net margin of 15.07%.The firm had revenue of $850.00 million for the quarter, compared to the consensus estimate of $851.32 million. During the same period in the previous year, the business earned $1.20 EPS. Analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Comerica in a report on Wednesday, January 21st. TD Cowen reiterated a “hold” rating on shares of Comerica in a research note on Wednesday, January 7th. Evercore set a $89.00 price objective on shares of Comerica in a report on Tuesday, January 6th. UBS Group raised Comerica from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research report on Tuesday, January 6th. Finally, Citigroup boosted their price target on Comerica from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 30th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $79.56.

Comerica Company Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.