Sequoia Financial Advisors LLC Makes New $282,000 Investment in Comerica Incorporated (NYSE:CMA)

Sequoia Financial Advisors LLC bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,048 shares of the financial services provider’s stock, valued at approximately $282,000.

A number of other large investors also recently bought and sold shares of CMA. Vanguard Group Inc. lifted its holdings in shares of Comerica by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 15,871,102 shares of the financial services provider’s stock worth $1,435,224,000 after purchasing an additional 366,188 shares during the last quarter. BlackRock Inc. increased its position in Comerica by 9.4% in the 1st quarter. BlackRock Inc. now owns 13,313,998 shares of the financial services provider’s stock valued at $578,094,000 after acquiring an additional 1,145,951 shares during the period. State Street Corp increased its position in Comerica by 3.9% in the 3rd quarter. State Street Corp now owns 7,675,947 shares of the financial services provider’s stock valued at $550,764,000 after acquiring an additional 284,884 shares during the period. First Trust Advisors LP increased its position in Comerica by 1,192.2% in the 1st quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock valued at $168,405,000 after acquiring an additional 3,578,355 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Comerica by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,294,605 shares of the financial services provider’s stock valued at $136,891,000 after acquiring an additional 115,446 shares during the period. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CMA. Keefe, Bruyette & Woods lowered their target price on Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Truist Financial lifted their price target on Comerica from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Jefferies Financial Group lowered their price target on Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. UBS Group lowered their price target on Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Evercore ISI lifted their price target on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus price target of $58.02.

Insiders Place Their Bets

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction 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 owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction 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 owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the transaction, the executive vice president now directly owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Comerica Stock Up 1.8 %

NYSE CMA opened at $51.58 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average is $51.38 and its two-hundred day moving average is $49.23. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 8.01 and a beta of 1.27. Comerica Incorporated has a 1-year low of $28.40 and a 1-year high of $57.39.

Comerica (NYSE:CMA) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.13 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. Comerica had a return on equity of 19.41% and a net margin of 16.71%. During the same period in the previous year, the business earned $2.39 EPS. Equities analysts forecast that Comerica Incorporated will post 5.09 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.51%. The ex-dividend date was Thursday, March 14th. Comerica’s dividend payout ratio is 44.10%.

Comerica Company 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.