Brighton Jones LLC Purchases New Position in Comerica Incorporated (NYSE:CMA)

Brighton Jones LLC purchased a new stake in Comerica Incorporated (NYSE:CMA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,118 shares of the financial services provider’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bison Wealth LLC lifted its position in Comerica by 1.7% in the fourth quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 196 shares during the last quarter. Fruth Investment Management increased its stake in Comerica by 1.6% in the fourth quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 200 shares during the period. Yousif Capital Management LLC increased its stake in Comerica by 2.8% in the fourth quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 219 shares during the period. Venturi Wealth Management LLC increased its stake in Comerica by 26.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 296 shares during the period. Finally, D.A. Davidson & CO. increased its stake in Comerica by 2.5% in the third quarter. D.A. Davidson & CO. now owns 12,525 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 300 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Up 2.3 %

CMA stock opened at $53.07 on Friday. Comerica Incorporated has a 52 week low of $28.40 and a 52 week high of $57.39. The company has a market cap of $7.04 billion, a P/E ratio of 10.55 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $51.62 and its 200 day moving average price is $49.93.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the prior year, the firm earned $2.39 earnings per share. On average, research analysts expect that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Analysts Set New Price Targets

CMA has been the topic of a number of recent research reports. DA Davidson restated a “neutral” rating and issued a $56.00 price objective on shares of Comerica in a research note on Wednesday, March 6th. Evercore ISI lifted their price objective on shares of Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Jefferies Financial Group dropped their price objective on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Raymond James lowered shares of Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada boosted their price target on shares of Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.98.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.