Illinois Municipal Retirement Fund Reduces Stock Holdings in Comerica Incorporated $CMA

Illinois Municipal Retirement Fund reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 23.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,431 shares of the financial services provider’s stock after selling 5,530 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Comerica were worth $1,263,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. United Community Bank bought a new stake in shares of Comerica during the 3rd quarter valued at about $26,000. FNY Investment Advisers LLC purchased a new stake in Comerica in the second quarter worth about $35,000. Geneos Wealth Management Inc. boosted its position in Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 176 shares in the last quarter. Center for Financial Planning Inc. grew its holdings in shares of Comerica by 41.2% during the 3rd quarter. Center for Financial Planning Inc. now owns 514 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 150 shares during the period. Finally, Root Financial Partners LLC purchased a new position in shares of Comerica during the 3rd quarter worth approximately $40,000. 80.74% of the stock is currently owned by institutional investors.

Comerica Trading Down 2.0%

NYSE:CMA opened at $90.98 on Wednesday. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 17.20 and a beta of 1.04. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.74. The company’s 50 day moving average price is $90.64 and its 200-day moving average price is $79.79. Comerica Incorporated has a 52 week low of $48.12 and a 52 week high of $99.41.

Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share (EPS) 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 business had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $851.32 million. During the same period in the prior year, the firm posted $1.20 EPS. On average, equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Allysun C. Fleming sold 8,864 shares of Comerica stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $94.47, for a total value of $837,382.08. Following the completion of the sale, the executive vice president directly owned 4,785 shares in the company, valued at approximately $452,038.95. This trade represents a 64.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Mcgregor Carr sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was 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 approximately $2,349,419.54. This trade represents a 29.45% 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 valued at $2,680,538 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.