Callan Family Office LLC Buys New Position in Comerica Incorporated $CMA

Key Points

• Callan Family Office LLC has acquired a new stake in Comerica Incorporated, purchasing 4,150 shares valued at approximately $248,000 during the second quarter.
• Analysts have issued mixed ratings for Comerica's stock, with four recommending a Buy, sixteen a Hold, and three a Sell, and the average target price set at $71.55.
• Comerica recently declared a quarterly dividend of $0.71 per share, leading to an annualized dividend yield of 3.8% and a dividend payout ratio of 54.41%.

Callan Family Office LLC purchased a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,150 shares of the financial services provider's stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MorganRosel Wealth Management LLC purchased a new position in shares of Comerica during the first quarter worth $33,000. Gen Wealth Partners Inc purchased a new stake in Comerica in the first quarter valued at $34,000. Geneos Wealth Management Inc. grew its position in Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after purchasing an additional 176 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Comerica during the 1st quarter valued at about $55,000. Finally, MAI Capital Management raised its stake in shares of Comerica by 32.1% during the 1st quarter. MAI Capital Management now owns 942 shares of the financial services provider's stock valued at $56,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Comerica from $75.00 to $85.00 and gave the company a "hold" rating in a research note on Tuesday, October 7th. UBS Group set a $64.00 price objective on shares of Comerica and gave the stock a "neutral" rating in a research report on Monday, July 21st. TD Cowen initiated coverage on shares of Comerica in a research note on Thursday, September 25th. They set a "hold" rating and a $75.00 target price on the stock. Citigroup raised their target price on Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $93.00 price target (up previously from $73.00) on shares of Comerica in a report on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $71.55.

Comerica Trading Down 6.0%

Shares of Comerica stock opened at $73.92 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The stock's 50 day simple moving average is $70.77 and its 200-day simple moving average is $62.68. The stock has a market cap of $9.50 billion, a P/E ratio of 14.16 and a beta of 0.96. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $83.22.

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

Comerica Dividend Announcement

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

Insider Buying and Selling at Comerica

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

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.