Hsbc Holdings PLC Trims Stock Holdings in Comerica Incorporated $CMA

Key Points

• Hsbc Holdings PLC significantly reduced its stake in Comerica Incorporated by 63.6% during the first quarter, holding 11,369 shares worth $671,000 after selling 19,871 shares.
• Comerica's recent quarterly earnings report indicated an EPS of $1.42, surpassing analysts' expectations, and a dividend of $0.71 per share will be paid on October 1st.
• Analysts have mixed views on Comerica, with price targets ranging from $54 to $65, and a consensus rating of "Hold" for the stock.

Hsbc Holdings PLC lowered its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 63.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,369 shares of the financial services provider's stock after selling 19,871 shares during the quarter. Hsbc Holdings PLC's holdings in Comerica were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CMA. MorganRosel Wealth Management LLC bought a new position in shares of Comerica in the 1st quarter worth about $33,000. Gen Wealth Partners Inc purchased a new stake in Comerica in the first quarter worth about $34,000. UMB Bank n.a. grew its holdings in Comerica by 19.4% in the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock worth $105,000 after purchasing an additional 289 shares during the period. Point72 Europe London LLP bought a new position in shares of Comerica during the fourth quarter valued at approximately $130,000. Finally, Vident Advisory LLC purchased a new position in shares of Comerica during the fourth quarter valued at approximately $208,000. Institutional investors own 80.74% of the company's stock.

Insider Buying and Selling at Comerica

In other news, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the sale, the insider directly owned 33,471 shares of the company's stock, valued at $2,251,928.88. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMA has been the topic of several recent research reports. Citigroup upped their price target on Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Piper Sandler increased their target price on Comerica from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Stephens restated an "equal weight" rating on shares of Comerica in a report on Monday, July 21st. JPMorgan Chase & Co. upped their price target on shares of Comerica from $52.00 to $60.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Finally, UBS Group set a $64.00 price objective on shares of Comerica and gave the company a "neutral" rating in a research note on Monday, July 21st. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Comerica presently has an average rating of "Hold" and a consensus price target of $64.40.

Comerica Price Performance

NYSE CMA opened at $70.58 on Monday. Comerica Incorporated has a one year low of $48.12 and a one year high of $73.45. The stock has a 50-day moving average of $65.39 and a 200 day moving average of $60.19. 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 $9.07 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 12.73 and a beta of 0.97.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $844.39 million. During the same quarter last year, the firm posted $1.49 EPS. On average, sell-side analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a yield of 4.0%. Comerica's payout ratio is currently 54.41%.

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.

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