Wedge Capital Management L L P NC Has $3.80 Million Holdings in Comerica Incorporated (NYSE:CMA)

Wedge Capital Management L L P NC lessened its holdings in shares of Comerica Incorporated (NYSE:CMAFree Report) by 3.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 68,071 shares of the financial services provider’s stock after selling 2,654 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Comerica were worth $3,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Comerica during the fourth quarter worth approximately $36,000. Fortitude Family Office LLC acquired a new position in Comerica during the fourth quarter worth approximately $36,000. FNY Investment Advisers LLC acquired a new position in shares of Comerica in the fourth quarter valued at approximately $50,000. CVA Family Office LLC acquired a new position in shares of Comerica in the fourth quarter valued at approximately $56,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Comerica in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Activity at Comerica

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the 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 completion of the sale, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction dated 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 directly owns 17,460 shares in the company, valued at approximately $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $53.00 target price on shares of Comerica in a research report on Monday. Evercore ISI upped their target price on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. The Goldman Sachs Group raised Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price on the stock in a research report on Thursday, January 4th. Piper Sandler upped their target price on Comerica from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Finally, Truist Financial cut their price target on Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.89.

View Our Latest Report on Comerica

Comerica Stock Up 0.6 %

NYSE CMA opened at $52.95 on Thursday. The business has a fifty day moving average price of $51.49 and a two-hundred day moving average price of $49.56. 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 fifty-two week low of $28.40 and a fifty-two week high of $57.39. The stock has a market capitalization of $7.02 billion, a PE ratio of 10.53 and a beta of 1.27.

Comerica (NYSE:CMAGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same period in the prior year, the business earned $2.39 earnings per share. Equities analysts expect that Comerica Incorporated will post 5.15 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.36%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Comerica Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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