Fishman Jay A Ltd. MI Decreases Stake in Comerica Incorporated $CMA

Key Points

• Fishman Jay A Ltd. MI has reduced its stake in Comerica Incorporated by 67.6%, now holding 24,630 shares valued at approximately $1.47 million.
• Comerica's stock has an average rating of "Hold" from analysts, with a consensus price target of $67.05.
• The company recently announced a quarterly dividend of $0.71 per share, representing an annual yield of 4.0%.

Fishman Jay A Ltd. MI lowered its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 67.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,630 shares of the financial services provider's stock after selling 51,278 shares during the quarter. Fishman Jay A Ltd. MI's holdings in Comerica were worth $1,469,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Lynx Investment Advisory boosted its holdings in Comerica by 3.3% during the second quarter. Lynx Investment Advisory now owns 5,135 shares of the financial services provider's stock worth $306,000 after buying an additional 163 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of 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 acquiring an additional 176 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Comerica by 19.6% during the 2nd quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider's stock worth $69,000 after acquiring an additional 189 shares in the last quarter. Keeley Teton Advisors LLC grew 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 worth $1,895,000 after acquiring an additional 217 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in Comerica by 0.3% during the first quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider's stock worth $4,985,000 after purchasing an additional 221 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CMA. UBS Group set a $64.00 price target on Comerica and gave the company a "neutral" 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. 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 report on Friday, September 12th. Cantor Fitzgerald began coverage on shares of Comerica in a research report on Wednesday, September 10th. They issued a "neutral" rating and a $72.00 price target on the stock. Finally, TD Cowen started coverage on Comerica in a research report on Thursday, September 25th. They set a "hold" rating and a $75.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $67.05.

Comerica Stock Performance

Shares of CMA opened at $70.60 on Monday. Comerica Incorporated has a 1 year low of $48.12 and a 1 year high of $73.45. The company's 50 day simple moving average is $68.83 and its 200 day simple moving average is $61.54. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 12.64 and a beta of 0.96. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.23 by $0.19. The firm had revenue of $849.00 million during the quarter, compared to analysts' expectations of $844.39 million. Comerica had a net margin of 14.92% and a return on equity of 10.92%. During the same period in the previous year, the company earned $1.49 EPS. On average, sell-side analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.71 per share. The ex-dividend date was Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 4.0%. Comerica's dividend payout ratio is 54.41%.

Insider Transactions at Comerica

In related news, EVP Allysun C. Fleming sold 2,100 shares of the business'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 value of $140,763.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction that occurred on 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 directly owned 33,471 shares in the company, valued at approximately $2,251,928.88. This represents a 10.67% decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

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.

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