Greenleaf Trust Reduces Stock Position in Comerica Incorporated (NYSE:CMA)

Greenleaf Trust cut its holdings in Comerica Incorporated (NYSE:CMA) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,644 shares of the financial services provider’s stock after selling 1,181 shares during the period. Greenleaf Trust’s holdings in Comerica were worth $482,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Comerica in the fourth quarter valued at approximately $36,000. Fortitude Family Office LLC acquired a new position in Comerica in the fourth quarter valued at approximately $36,000. FNY Investment Advisers LLC acquired a new position in Comerica in the fourth quarter valued at approximately $50,000. CVA Family Office LLC acquired a new position in Comerica in the fourth quarter valued at approximately $56,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in Comerica in the third quarter valued at approximately $47,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Performance

NYSE:CMA opened at $52.59 on Tuesday. The firm has a market capitalization of $6.97 billion, a PE ratio of 10.46 and a beta of 1.27. The business’s fifty day moving average price is $51.38 and its 200 day moving average price is $49.45. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39.

Comerica (NYSE:CMA) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same quarter in the prior year, the company posted $2.39 earnings per share. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.09 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.40%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Insider Transactions at Comerica

In other news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler upped their price objective on Comerica from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Friday. Raymond James cut Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Truist Financial decreased their price target on Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada upped their price target on Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Jefferies Financial Group decreased their price target on Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Comerica currently has a consensus rating of “Hold” and a consensus target price of $56.89.

About Comerica

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.