Comerica Incorporated (NYSE:CMA) Shares Sold by Blackhawk Capital Partners LLC.

Blackhawk Capital Partners LLC. reduced its position in shares of Comerica Incorporated (NYSE:CMA) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,286 shares of the financial services provider’s stock after selling 151 shares during the period. Blackhawk Capital Partners LLC.’s holdings in Comerica were worth $257,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. OLD National Bancorp IN lifted its holdings in Comerica by 4.9% in the 2nd quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock worth $12,130,000 after buying an additional 11,049 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Comerica by 66.2% during the second quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock worth $3,209,000 after acquiring an additional 25,040 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Comerica by 39.3% in the second quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock worth $11,262,000 after acquiring an additional 62,269 shares in the last quarter. Point72 Europe London LLP purchased a new position in Comerica in the second quarter valued at about $4,767,000. Finally, UniSuper Management Pty Ltd grew its stake in Comerica by 1,159.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 16,736 shares of the financial services provider’s stock valued at $920,000 after purchasing an additional 15,407 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CMA shares. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $51.00 to $73.00 in a research report on Friday, November 15th. StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Evercore ISI increased their price objective on shares of Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Stephens boosted their target price on shares of Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Truist Financial upped their target price on shares of Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus target price of $64.43.

Comerica Trading Up 0.2 %

Shares of NYSE:CMA opened at $67.88 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.97. The company’s 50-day moving average price is $62.58 and its 200 day moving average price is $56.01. The company has a market cap of $8.93 billion, a PE ratio of 16.97 and a beta of 1.22. Comerica Incorporated has a fifty-two week low of $42.55 and a fifty-two week high of $71.63.

Comerica (NYSE:CMA) last announced its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.16. Comerica had a return on equity of 12.54% and a net margin of 11.17%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. During the same quarter in the previous year, the business earned $1.84 EPS. Sell-side analysts anticipate that Comerica Incorporated will post 5.37 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.18%. The ex-dividend date is Friday, December 13th. Comerica’s payout ratio is currently 71.00%.

Comerica announced that its Board of Directors has approved a share repurchase plan on Tuesday, November 5th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now directly owns 8,730 shares in the company, valued at approximately $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This represents a 8.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,001 shares of company stock worth $1,123,650 in the last 90 days. Corporate 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.