Comerica Incorporated (NYSE:CMA) Shares Sold by LHM Inc.

Key Points

• LHM Inc. has reduced its holdings of Comerica Incorporated by 4%, leaving them with approximately $7.76 million invested in the financial services provider.
• Comerica recently reported earnings of $1.42 per share, surpassing estimates, while announcing a quarterly dividend of $0.71 per share scheduled for October 1st.
• Analysts have a consensus rating of "Hold" for Comerica, with price targets ranging from $60.00 to $75.00 indicating varied outlooks on the company's performance.

LHM Inc. cut its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,898 shares of the financial services provider's stock after selling 5,354 shares during the period. Comerica comprises about 2.6% of LHM Inc.'s investment portfolio, making the stock its 9th largest position. LHM Inc. owned 0.10% of Comerica worth $7,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. M&T Bank Corp grew its stake in Comerica by 11.2% in the 1st quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider's stock worth $780,000 after acquiring an additional 1,326 shares in the last quarter. Bessemer Group Inc. grew its stake in Comerica by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider's stock worth $666,000 after acquiring an additional 414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Comerica by 11.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,173 shares of the financial services provider's stock worth $6,293,000 after acquiring an additional 11,148 shares in the last quarter. Wolverine Asset Management LLC grew its stake in Comerica by 25.8% in the 1st quarter. Wolverine Asset Management LLC now owns 41,997 shares of the financial services provider's stock worth $2,480,000 after acquiring an additional 8,604 shares in the last quarter. Finally, tru Independence LLC grew its stake in Comerica by 5.9% in the 1st quarter. tru Independence LLC now owns 85,075 shares of the financial services provider's stock worth $5,024,000 after acquiring an additional 4,772 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CMA shares. Truist Financial increased their price objective on shares of Comerica from $61.00 to $68.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. Raymond James Financial reiterated a "market perform" rating on shares of Comerica in a research note on Tuesday, July 8th. JPMorgan Chase & Co. increased their price objective on shares of Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group dropped their price objective on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, Stephens reiterated an "equal weight" rating on shares of Comerica in a research note on Monday, July 21st. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $64.40.

Insider Buying and Selling at Comerica

In other news, 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 directly owned 33,471 shares in the company, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Allysun C. Fleming sold 2,100 shares of Comerica 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company's stock.

Comerica Stock Down 1.5%

CMA traded down $1.07 during trading on Friday, hitting $68.10. The stock had a trading volume of 1,434,982 shares, compared to its average volume of 2,683,413. The company has a market capitalization of $8.75 billion, a PE ratio of 13.05, a PEG ratio of 12.48 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 has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50 day simple moving average of $62.91 and a two-hundred day simple moving average of $60.15.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data 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. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The business had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. During the same period in the previous year, the firm posted $1.49 earnings per share. On average, research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, September 15th. Comerica's payout ratio is presently 54.41%.

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.