Plan Group Financial LLC Acquires 1,739 Shares of Comerica Incorporated (NYSE:CMA)

Plan Group Financial LLC boosted its holdings in Comerica Incorporated (NYSE:CMA) by 15.6% in the third quarter, Holdings Channel reports. The institutional investor owned 12,886 shares of the financial services provider’s stock after buying an additional 1,739 shares during the period. Plan Group Financial LLC’s holdings in Comerica were worth $772,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Comerica in the 3rd quarter valued at approximately $36,000. Family Firm Inc. bought a new position in Comerica in the 2nd quarter valued at approximately $37,000. UMB Bank n.a. raised its holdings in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after buying an additional 208 shares during the last quarter. Versant Capital Management Inc increased its position in Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC increased its position in Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the period. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

Shares of CMA stock opened at $62.30 on Wednesday. The firm has a market capitalization of $8.26 billion, a PE ratio of 12.39 and a beta of 1.23. The firm has a fifty day simple moving average of $58.28 and a two-hundred day simple moving average of $53.90. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a 12 month low of $37.40 and a 12 month high of $66.06.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period in the previous year, the firm earned $1.84 EPS. Analysts forecast that Comerica Incorporated will post 5.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CMA. Stephens increased their target price on shares of Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada decreased their target price on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. DA Davidson increased their target price on shares of Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Piper Sandler raised their price objective on shares of Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus price target of $62.57.

Insiders Place Their Bets

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Comerica Profile

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.