First Horizon Advisors Inc. Sells 167 Shares of Comerica Incorporated (NYSE:CMA)

First Horizon Advisors Inc. lessened its stake in Comerica Incorporated (NYSE:CMA) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,706 shares of the financial services provider’s stock after selling 167 shares during the period. First Horizon Advisors Inc.’s holdings in Comerica were worth $102,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Comerica by 99.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,644 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 7,798 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Comerica by 0.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 63,348 shares of the financial services provider’s stock worth $3,485,000 after buying an additional 594 shares in the last quarter. Shell Asset Management Co. increased its holdings in Comerica by 34.5% in the 1st quarter. Shell Asset Management Co. now owns 7,629 shares of the financial services provider’s stock valued at $420,000 after buying an additional 1,955 shares during the period. Axxcess Wealth Management LLC bought a new stake in Comerica in the 1st quarter valued at $220,000. Finally, Toronto Dominion Bank raised its stake in shares of Comerica by 8.5% in the 1st quarter. Toronto Dominion Bank now owns 78,365 shares of the financial services provider’s stock valued at $4,309,000 after buying an additional 6,123 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Comerica

In other Comerica news, EVP James Harry Weber sold 6,500 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $63.23, for a total transaction of $410,995.00. Following the transaction, the executive vice president now owns 15,773 shares in the company, valued at approximately $997,326.79. This trade represents a 29.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the transaction, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,456 shares of company stock worth $977,287 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $50.00 to $69.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their target price on Comerica from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Truist Financial upped their price target on Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $52.00 to $75.00 in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $64.43.

Comerica Stock Up 3.2 %

Shares of CMA opened at $71.09 on Friday. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of 17.77 and a beta of 1.22. Comerica Incorporated has a 52 week low of $42.55 and a 52 week high of $71.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97. The business’s fifty day moving average price is $63.10 and its two-hundred day moving average price is $56.24.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $806.49 million. During the same period last year, the company earned $1.84 earnings per share. On average, analysts predict that Comerica Incorporated will post 5.37 earnings per share for the current year.

Comerica declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 5th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, December 13th. Comerica’s dividend payout ratio (DPR) is 71.00%.

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.