Comerica Incorporated $CMA Shares Sold by SS&H Financial Advisors Inc.

by · The Markets Daily

SS&H Financial Advisors Inc. cut its stake in shares of Comerica Incorporated (NYSE:CMA – Free Report) by 19.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,595 shares of the financial services provider’s stock after selling 2,073 shares during the period. SS&H Financial Advisors Inc.’s holdings in Comerica were worth $513,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Comerica by 0.3% in the first quarter. Principal Financial Group Inc. now owns 302,409 shares of the financial services provider’s stock valued at $17,860,000 after purchasing an additional 821 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Comerica by 11.2% in the first quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider’s stock valued at $780,000 after purchasing an additional 1,326 shares in the last quarter. tru Independence LLC grew its holdings in shares of Comerica by 5.9% in the first quarter. tru Independence LLC now owns 85,075 shares of the financial services provider’s stock valued at $5,024,000 after purchasing an additional 4,772 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Comerica by 246.4% in the first quarter. Allworth Financial LP now owns 10,149 shares of the financial services provider’s stock valued at $599,000 after purchasing an additional 7,219 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of Comerica by 1.3% in the first quarter. State of Michigan Retirement System now owns 31,500 shares of the financial services provider’s stock valued at $1,860,000 after purchasing an additional 400 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Comerica

In other news, EVP Allysun C. Fleming sold 2,100 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the completion of the transaction, 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. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James Mcgregor Carr sold 4,000 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the transaction, the insider owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.19% of the company’s stock.

Comerica Stock Down 0.6%

Shares of Comerica stock opened at $76.63 on Friday. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $83.22. The company has a 50 day moving average of $72.79 and a 200 day moving average of $64.65. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $9.79 billion, a P/E ratio of 14.62 and a beta of 0.96.

Comerica (NYSE:CMA – Get Free Report) last issued its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. The company had revenue of $824.00 million during the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. As a group, research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CMA. UBS Group set a $64.00 price objective on shares of Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $93.00 price objective (up previously from $73.00) on shares of Comerica in a report on Friday, October 10th. Cantor Fitzgerald assumed coverage on shares of Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price objective for the company. Raymond James Financial reiterated a “market perform” rating on shares of Comerica in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Comerica has an average rating of “Hold” and a consensus price target of $74.55.

Get Our Latest Stock Report on Comerica

About Comerica

(Free Report)

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.

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