Handelsbanken Fonder AB Purchases 25,100 Shares of Comerica Incorporated $CMA

Handelsbanken Fonder AB boosted its position in Comerica Incorporated (NYSE:CMA) by 99.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,400 shares of the financial services provider’s stock after buying an additional 25,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Comerica were worth $3,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. United Community Bank purchased a new stake in Comerica in the 3rd quarter worth about $26,000. Center for Financial Planning Inc. lifted its holdings in Comerica by 41.2% during the third quarter. Center for Financial Planning Inc. now owns 514 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 150 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 176 shares during the period. Root Financial Partners LLC purchased a new position in shares of Comerica in the third quarter worth about $40,000. Finally, Employees Retirement System of Texas bought a new stake in shares of Comerica in the second quarter valued at approximately $48,000. 80.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Comerica

In other news, insider James Mcgregor Carr sold 10,000 shares of Comerica stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $98.06, for a total transaction of $980,600.00. Following the completion of the sale, the insider directly owned 23,959 shares of the company’s stock, valued at approximately $2,349,419.54. The trade was a 29.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allysun C. Fleming sold 8,864 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $94.47, for a total transaction of $837,382.08. Following the completion of the transaction, the executive vice president owned 4,785 shares of the company’s stock, valued at $452,038.95. This trade represents a 64.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,662 shares of company stock worth $2,680,538 over the last three months. 1.10% of the stock is owned by insiders.

Comerica Price Performance

NYSE:CMA opened at $90.98 on Wednesday. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $99.41. The stock has a fifty day moving average of $91.13 and a 200 day moving average of $81.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.96 and a current ratio of 0.97. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 17.20 and a beta of 1.04.

Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share for the quarter, beating 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 analysts’ expectations of $851.32 million. During the same quarter last year, the firm posted $1.20 EPS. On average, research analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Comerica

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.