Bleakley Financial Group LLC Makes New Investment in Comerica Incorporated (NYSE:CMA)

Bleakley Financial Group LLC acquired a new position in Comerica Incorporated (NYSE:CMA) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,806 shares of the financial services provider’s stock, valued at approximately $212,000.

Other large investors have also modified their holdings of the company. Chilton Capital Management LLC acquired a new position in shares of Comerica in the first quarter worth about $28,000. Fortitude Family Office LLC acquired a new position in shares of Comerica in the fourth quarter worth about $36,000. Almanack Investment Partners LLC. acquired a new position in shares of Comerica during the 3rd quarter worth about $38,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Comerica during the 3rd quarter worth about $47,000. Finally, Parkside Financial Bank & Trust raised its position in shares of Comerica by 25.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 231 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Performance

Comerica stock opened at $50.00 on Wednesday. The firm has a 50 day simple moving average of $51.39 and a 200-day simple moving average of $49.13. Comerica Incorporated has a 1-year low of $28.40 and a 1-year high of $57.39. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 7.76 and a beta of 1.27.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.08. Comerica had a net margin of 16.71% and a return on equity of 19.41%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $826.07 million. During the same quarter in the prior year, the company posted $2.58 EPS. On average, analysts expect that Comerica Incorporated will post 5.09 EPS for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.68%. Comerica’s payout ratio is currently 44.10%.

Insider Buying and Selling

In related news, EVP Wendy Bridges sold 3,034 shares of the 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 completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was 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 of the company’s stock, valued at approximately $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CMA shares. DA Davidson restated a “neutral” rating and set a $56.00 price target on shares of Comerica in a research report on Wednesday, March 6th. Keefe, Bruyette & Woods reduced their price target on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. TheStreet upgraded shares of Comerica from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. UBS Group restated a “neutral” rating and set a $59.00 price target (down previously from $66.00) on shares of Comerica in a research report on Thursday, April 4th. Finally, Truist Financial upped their price target on shares of Comerica from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.67.

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.