Bank of New York Mellon Corp Increases Stock Holdings in Comerica Incorporated $CMA

Bank of New York Mellon Corp raised its holdings in Comerica Incorporated (NYSE:CMA) by 466.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,291,514 shares of the financial services provider’s stock after buying an additional 6,003,703 shares during the quarter. Bank of New York Mellon Corp owned about 5.71% of Comerica worth $499,615,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Comerica by 0.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 30,380 shares of the financial services provider’s stock valued at $2,082,000 after acquiring an additional 131 shares in the last quarter. PFG Investments LLC acquired a new position in Comerica during the 3rd quarter valued at approximately $432,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Comerica by 21.7% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 17,285 shares of the financial services provider’s stock worth $1,184,000 after buying an additional 3,083 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Comerica by 23.0% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 72,587 shares of the financial services provider’s stock worth $4,974,000 after buying an additional 13,558 shares during the last quarter. Finally, Sage Mountain Advisors LLC acquired a new stake in shares of Comerica during the third quarter worth $212,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Activity

In other news, insider James Mcgregor Carr sold 10,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 23,959 shares in the company, valued at $2,349,419.54. This represents a 29.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Harry Weber sold 8,798 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $98.04, for a total value of $862,555.92. Following the completion of the sale, the executive vice president directly owned 20,543 shares of the company’s stock, valued at approximately $2,014,035.72. This represents a 29.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup raised their target price on Comerica from $82.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 30th. Wells Fargo & Company raised their price objective on Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Comerica in a research report on Wednesday, January 21st. Piper Sandler set a $82.00 price target on shares of Comerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Comerica in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.56.

Comerica Price Performance

NYSE:CMA opened at $92.64 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.97 and a quick ratio of 0.96. The company has a 50 day moving average price of $87.80 and a 200-day moving average price of $77.21. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $99.41. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 17.51 and a beta of 1.03.

Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.28 by $0.18. The company had revenue of $850.00 million for the quarter, compared to analyst estimates of $851.32 million. Comerica had a net margin of 15.07% and a return on equity of 10.74%. During the same quarter last year, the business earned $1.20 earnings per share. Equities research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Monday, December 15th were given a $0.71 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Comerica’s dividend payout ratio (DPR) is 53.69%.

Comerica 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.