Focus Partners Advisor Solutions LLC Sells 6,265 Shares of Comerica Incorporated $CMA

Key Points

• Focus Partners Advisor Solutions LLC reduced its stake in Comerica Incorporated by 50.6%, now holding 6,112 shares worth $361,000 after selling 6,265 shares in the first quarter.
• Comerica reported $1.42 earnings per share (EPS) for the last quarter, exceeding analysts’ expectations of $1.23, with total revenue of $849 million compared to estimates of $844.39 million.
• The company declared a $0.71 quarterly dividend to be paid on October 1st, which reflects an annualized dividend of $2.84 and a yield of 4.1%.

Focus Partners Advisor Solutions LLC cut its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 50.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,112 shares of the financial services provider's stock after selling 6,265 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Comerica were worth $361,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CMA. MorganRosel Wealth Management LLC acquired a new position in shares of Comerica in the first quarter valued at about $33,000. Gen Wealth Partners Inc acquired a new position in shares of Comerica in the first quarter valued at about $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Comerica in the first quarter valued at about $55,000. MAI Capital Management grew its stake in shares of Comerica by 32.1% in the first quarter. MAI Capital Management now owns 942 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 229 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Comerica by 38.9% in the first quarter. Quarry LP now owns 1,204 shares of the financial services provider's stock valued at $71,000 after acquiring an additional 337 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CMA shares. Stephens restated an "equal weight" rating on shares of Comerica in a research note on Monday, July 21st. Truist Financial upped their price target on shares of Comerica from $68.00 to $70.00 and gave the company a "hold" rating in a research note on Friday. Piper Sandler increased their price objective on shares of Comerica from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. boosted their target price on shares of Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of Comerica in a report on Tuesday, July 8th. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $65.10.

Comerica Trading Up 1.5%

NYSE:CMA traded up $1.04 during mid-day trading on Friday, hitting $70.50. 1,590,357 shares of the company's stock were exchanged, compared to its average volume of 1,682,092. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $73.45. The company has a 50 day simple moving average of $67.28 and a 200-day simple moving average of $60.50. The firm has a market capitalization of $9.06 billion, a P/E ratio of 13.51, a PEG ratio of 12.50 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 (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The firm had revenue of $849.00 million during the quarter, compared to analyst estimates of $844.39 million. During the same quarter last year, the business earned $1.49 EPS. As a group, research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 4.0%. Comerica's dividend payout ratio (DPR) is presently 54.41%.

Insider Buying and Selling at Comerica

In other news, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction on 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 sale, the executive vice president owned 9,424 shares in the company, valued at $631,690.72. The trade was a 18.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction 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 completion of the sale, the insider owned 33,471 shares of the company's stock, valued at $2,251,928.88. This represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company's stock.

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.