Applied Finance Capital Management LLC Buys Shares of 3,464 Comerica Incorporated $CMA

Key Points

• Applied Finance Capital Management LLC has purchased 3,464 shares of Comerica Incorporated, valued at approximately $207,000, during the second quarter.
• Comerica currently has a consensus rating of "Hold" from analysts, with a target price of $71.55, amidst recent price adjustments from various brokerages.
• The company announced a quarterly dividend of $0.71 per share, which translates to an annualized yield of 3.8%.

Applied Finance Capital Management LLC bought a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,464 shares of the financial services provider's stock, valued at approximately $207,000.

Other large investors also recently added to or reduced their stakes in the company. M&T Bank Corp lifted its position in Comerica by 11.2% during the 1st quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider's stock valued at $780,000 after purchasing an additional 1,326 shares during the period. Baron Wealth Management LLC acquired a new position in Comerica during the 2nd quarter valued at about $240,000. Rhino Investment Partners Inc lifted its position in Comerica by 35.4% during the 1st quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider's stock valued at $23,191,000 after purchasing an additional 102,647 shares during the period. Bessemer Group Inc. lifted its position in Comerica by 3.8% during the 1st quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider's stock valued at $666,000 after purchasing an additional 414 shares during the period. Finally, Wolverine Asset Management LLC lifted its position in Comerica by 25.8% during the 1st quarter. Wolverine Asset Management LLC now owns 41,997 shares of the financial services provider's stock valued at $2,480,000 after purchasing an additional 8,604 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMA. Cowen began coverage on shares of Comerica in a research report on Wednesday, September 24th. They issued a "hold" rating on the stock. Truist Financial increased their price target on shares of Comerica from $68.00 to $70.00 and gave the company a "hold" rating in a research report on Friday, September 12th. Jefferies Financial Group increased their price target on shares of Comerica from $75.00 to $85.00 and gave the company a "hold" rating in a research report on Tuesday, October 7th. Evercore ISI cut their price target on shares of Comerica from $71.00 to $70.00 and set an "underperform" rating on the stock in a research report on Tuesday, September 30th. Finally, TD Cowen began coverage on shares of Comerica in a research report on Thursday, September 25th. They issued a "hold" rating and a $75.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Comerica presently has a consensus rating of "Hold" and a consensus target price of $71.55.

Insider Activity at Comerica

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.28, for a total transaction of $269,120.00. Following the sale, the insider directly owned 33,471 shares in the company, valued at approximately $2,251,928.88. This trade represents a 10.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares of the company's stock, valued at $631,690.72. This represents a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company's stock.

Comerica Stock Performance

Shares of CMA stock opened at $74.85 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $9.62 billion, a P/E ratio of 14.28 and a beta of 0.96. The company's 50 day moving average price is $70.93 and its two-hundred day moving average price is $62.82. Comerica Incorporated has a 52 week low of $48.12 and a 52 week high of $83.22.

Comerica (NYSE:CMA - Get Free Report) last announced its earnings results on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. The firm had revenue of $824.00 million for the quarter. Comerica had a net margin of 14.92% and a return on equity of 10.92%. On average, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, September 15th. Comerica's dividend payout ratio (DPR) is 54.41%.

About Comerica

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.

Want to see what other hedge funds are holding CMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comerica Incorporated (NYSE:CMA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.