Invesco Ltd. Has $69.88 Million Stock Holdings in Comerica Incorporated $CMA

Key Points

• Invesco Ltd. increased its position in Comerica Incorporated by 48.7%, now owning 1,183,213 shares valued at approximately $69.88 million.
• Insider James Mcgregor Carr and EVP Allysun C. Fleming each sold a significant number of shares, signaling a 10.67% and 18.22% decrease in their respective positions.
• Comerica announced a quarterly dividend of $0.71 per share to be paid on October 1, which represents an annualized yield of 4.2%.

Invesco Ltd. grew its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 48.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,183,213 shares of the financial services provider's stock after acquiring an additional 387,527 shares during the quarter. Invesco Ltd. owned about 0.90% of Comerica worth $69,881,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in Comerica in the 1st quarter worth about $33,000. Quarry LP boosted its position in Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after acquiring an additional 523 shares during the period. UMB Bank n.a. boosted its position in Comerica by 19.4% during the 1st quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock worth $105,000 after acquiring an additional 289 shares during the period. Point72 Europe London LLP acquired a new stake in Comerica during the 4th quarter worth about $130,000. Finally, MGO One Seven LLC acquired a new stake in Comerica during the 4th quarter worth about $200,000. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CMA. Royal Bank Of Canada decreased their price objective on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group upgraded Comerica from an "underperform" rating to a "hold" rating and raised their price objective for the stock from $50.00 to $70.00 in a research report on Wednesday, August 6th. UBS Group set a $64.00 price objective on Comerica and gave the stock a "neutral" rating in a research report on Monday, July 21st. Wells Fargo & Company decreased their price objective on Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Robert W. Baird cut their price target on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $64.40.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 2,100 shares of the company's stock in a transaction 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 sale, the executive vice president owned 9,424 shares in the company, valued at approximately $631,690.72. The trade was a 18.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James Mcgregor Carr sold 4,000 shares of the company's 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 sale, the insider 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 currently owned by corporate insiders.

Comerica Price Performance

Shares of CMA traded down $0.1370 during mid-day trading on Wednesday, reaching $67.4430. The company had a trading volume of 523,996 shares, compared to its average volume of 1,978,923. The company has a market capitalization of $8.67 billion, a P/E ratio of 12.92, a P/E/G ratio of 12.22 and a beta of 0.94. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $73.45. The company's 50-day moving average is $63.26 and its 200-day moving average is $60.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96.

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

Comerica Announces Dividend

The company also recently disclosed 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 of this dividend is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 4.2%. Comerica's dividend 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.