MADDEN SECURITIES Corp Has $3.93 Million Position in Comerica Incorporated $CMA

Key Points

• MADDEN SECURITIES Corp reduced its holdings in Comerica Incorporated by 31.8% in the second quarter, owning 65,812 shares worth approximately $3.93 million at quarter-end.
• Comerica reported $1.42 earnings per share (EPS) for its last quarter, exceeding analysts' expectations, and had a net margin of 14.92%.
• The stock has received mixed reviews from analysts, with five giving a Buy rating, fourteen a Hold rating, and four a Sell rating, resulting in a consensus price target of $67.80.

MADDEN SECURITIES Corp lessened its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 31.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,812 shares of the financial services provider's stock after selling 30,625 shares during the quarter. Comerica accounts for approximately 1.3% of MADDEN SECURITIES Corp's portfolio, making the stock its 24th largest position. MADDEN SECURITIES Corp owned about 0.05% of Comerica worth $3,926,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CMA. Greenwood Capital Associates LLC increased its position in shares of Comerica by 46.7% during the second quarter. Greenwood Capital Associates LLC now owns 24,975 shares of the financial services provider's stock worth $1,490,000 after acquiring an additional 7,950 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Comerica by 11.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,580 shares of the financial services provider's stock valued at $7,133,000 after purchasing an additional 12,407 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Comerica during the 2nd quarter worth approximately $337,000. Lynx Investment Advisory increased its holdings in Comerica by 3.3% during the 2nd quarter. Lynx Investment Advisory now owns 5,135 shares of the financial services provider's stock worth $306,000 after purchasing an additional 163 shares in the last quarter. Finally, Oakworth Capital Inc. raised its stake in shares of Comerica by 0.8% in the second quarter. Oakworth Capital Inc. now owns 252,624 shares of the financial services provider's stock worth $15,069,000 after purchasing an additional 1,915 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CMA shares. Cantor Fitzgerald started coverage on Comerica in a research report on Wednesday, September 10th. They set a "neutral" rating and a $72.00 target price on the stock. Morgan Stanley lifted their price objective on shares of Comerica from $61.00 to $76.00 and gave the stock an "underweight" rating in a report on Monday, September 29th. DA Davidson set a $60.00 target price on shares of Comerica and gave the stock a "neutral" rating in a research note on Monday, July 21st. Citigroup raised their price target on shares of Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Comerica from $52.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $67.80.

Comerica Price Performance

Shares of NYSE:CMA opened at $80.19 on Tuesday. The company has a market capitalization of $10.31 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 12.64 and a beta of 0.96. The company's 50-day moving average is $69.04 and its 200 day moving average is $61.69. 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 Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $83.22.

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

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were paid a $0.71 dividend. The ex-dividend date was Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 3.5%. Comerica's dividend payout ratio is presently 54.41%.

Insider Buying and Selling at Comerica

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 33,471 shares of the company's stock, valued at approximately $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of the business's 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 approximately $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. 1.10% of the stock is currently owned by corporate 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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