4,026 Shares in Comerica Incorporated $CMA Acquired by Baron Wealth Management LLC

Key Points

• Baron Wealth Management LLC has invested approximately $240,000 in Comerica Incorporated by purchasing 4,026 shares during the second quarter.
• Comerica recently announced a quarterly dividend of $0.71 per share, representing a 4.1% dividend yield, and is set to be paid on October 1st.
• Comerica's stock has an average target price of $65.10, with ratings ranging from five "Buy" to five "Sell" from various analysts.

Baron Wealth Management LLC acquired a new position in Comerica Incorporated (NYSE:CMA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,026 shares of the financial services provider's stock, valued at approximately $240,000.

Other large investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock valued at $35,000 after buying an additional 176 shares in the last quarter. Parallel Advisors LLC raised its position in Comerica by 19.6% during the 2nd quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 189 shares in the last quarter. Keeley Teton Advisors LLC increased its holdings in shares of Comerica by 0.7% in the 1st quarter. Keeley Teton Advisors LLC now owns 32,079 shares of the financial services provider's stock valued at $1,895,000 after acquiring an additional 217 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Comerica by 0.3% in the 1st quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider's stock valued at $4,985,000 after acquiring an additional 221 shares during the period. Finally, MAI Capital Management grew its stake in Comerica by 32.1% during the 1st quarter. MAI Capital Management now owns 942 shares of the financial services provider's stock worth $56,000 after buying an additional 229 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Comerica from $52.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods increased their price objective on Comerica from $69.00 to $73.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Raymond James Financial restated a "market perform" rating on shares of Comerica in a research report on Tuesday, July 8th. Jefferies Financial Group raised their price objective on Comerica from $70.00 to $75.00 and gave the stock a "hold" rating in a report on Wednesday, September 3rd. Finally, Citigroup lifted their price objective on Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.10.

Comerica Stock Performance

NYSE CMA traded down $0.53 during trading hours on Friday, reaching $69.81. The company's stock had a trading volume of 2,603,481 shares, compared to its average volume of 1,661,226. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The business has a 50-day simple moving average of $67.89 and a 200 day simple moving average of $60.74. Comerica Incorporated has a 52 week low of $48.12 and a 52 week high of $73.45. The stock has a market cap of $8.97 billion, a PE ratio of 13.37, a PEG ratio of 12.55 and a beta of 0.97.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.19. Comerica had a return on equity of 10.92% and a net margin of 14.92%.The company had revenue of $849.00 million for the quarter, compared to analysts' expectations of $844.39 million. During the same quarter in the previous year, the company posted $1.49 earnings per share. Equities research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Comerica's dividend payout ratio is 54.41%.

Insider Activity

In other news, insider James Mcgregor Carr sold 4,000 shares of the 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 of the company's stock, valued at $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the transaction, the executive vice president directly owned 9,424 shares in the company, valued at approximately $631,690.72. The trade was a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

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.