Comerica Incorporated (NYSE:CMA) Shares Sold by LVM Capital Management Ltd. MI

LVM Capital Management Ltd. MI decreased its stake in shares of Comerica Incorporated (NYSE:CMA) by 14.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 29,307 shares of the financial services provider’s stock after selling 5,000 shares during the period. LVM Capital Management Ltd. MI’s holdings in Comerica were worth $1,813,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Comerica during the third quarter worth approximately $36,000. Wilmington Savings Fund Society FSB purchased a new position in Comerica in the 3rd quarter worth about $42,000. EverSource Wealth Advisors LLC raised its holdings in Comerica by 19.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock worth $66,000 after buying an additional 199 shares during the period. Cranbrook Wealth Management LLC purchased a new stake in Comerica during the second quarter valued at about $79,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Comerica by 400.0% in the second quarter. Sunbelt Securities Inc. now owns 2,500 shares of the financial services provider’s stock worth $128,000 after buying an additional 2,000 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Comerica

In other news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total transaction of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares in the company, valued at approximately $600,885.90. This represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bruce Mitchell sold 7,564 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction of $470,480.80. Following the transaction, the executive vice president now owns 16,428 shares in the company, valued at approximately $1,021,821.60. This trade represents a 31.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,456 shares of company stock valued at $977,287 in the last 90 days. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CMA shares. Bank of America downgraded shares of Comerica from a “neutral” rating to an “underperform” rating and cut their target price for the company from $55.00 to $52.00 in a research note on Monday, October 7th. Barclays increased their price objective on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday. DA Davidson upped their target price on Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, October 21st. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $71.00 in a report on Tuesday. Finally, Robert W. Baird lifted their target price on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Comerica presently has a consensus rating of “Hold” and an average price target of $67.14.

Comerica Stock Performance

Shares of CMA stock traded down $2.00 during mid-day trading on Friday, reaching $60.29. The stock had a trading volume of 1,149,710 shares, compared to its average volume of 1,351,072. The firm has a market cap of $7.93 billion, a PE ratio of 15.07 and a beta of 1.26. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.97. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The firm’s 50 day simple moving average is $66.47 and its 200 day simple moving average is $59.80.

Comerica (NYSE:CMA) last issued 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 net margin of 11.17% and a return on equity of 12.54%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. During the same period in the previous year, the business earned $1.84 EPS. On average, analysts forecast that Comerica Incorporated will post 5.37 EPS for the current year.

Comerica declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a $0.71 dividend. The ex-dividend date was Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.71%. Comerica’s payout ratio is presently 71.00%.

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.