8,052 Shares in Comerica Incorporated $CMA Acquired by Martin Capital Partners LLC

Key Points

• Martin Capital Partners LLC acquired 8,052 shares of Comerica Incorporated, valued at approximately $480,000, during the second quarter.
• Comerica has received updated price targets from several analysts, with Citigroup raising theirs from $54.00 to $61.00, indicating a generally positive outlook on the stock.
• The company declared a quarterly dividend of $0.71 per share, representing a 4.0% dividend yield with a payout ratio of 54.41%.

Martin Capital Partners LLC acquired a new stake in Comerica Incorporated (NYSE:CMA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,052 shares of the financial services provider's stock, valued at approximately $480,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its holdings in shares of Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after buying an additional 176 shares in the last quarter. Parallel Advisors LLC grew its stake in Comerica by 19.6% during the 2nd quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 189 shares in the last quarter. Keeley Teton Advisors LLC grew its stake in Comerica by 0.7% during the 1st quarter. Keeley Teton Advisors LLC now owns 32,079 shares of the financial services provider's stock valued at $1,895,000 after acquiring an additional 217 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Comerica by 0.3% in the 1st quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider's stock valued at $4,985,000 after acquiring an additional 221 shares during the last quarter. Finally, MAI Capital Management lifted its stake in Comerica by 32.1% in the 1st quarter. MAI Capital Management now owns 942 shares of the financial services provider's stock worth $56,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CMA shares. Piper Sandler upped their price target on Comerica from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Citigroup upped their target price on Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Raymond James Financial reiterated a "market perform" rating on shares of Comerica in a report on Tuesday, July 8th. DA Davidson set a $60.00 price objective on shares of Comerica and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Comerica from $69.00 to $73.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $65.10.

Comerica Trading Down 0.4%

NYSE CMA traded down $0.27 on Tuesday, reaching $68.48. The stock had a trading volume of 1,321,778 shares, compared to its average volume of 1,680,919. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average price of $67.50 and a two-hundred day moving average price of $60.54. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $73.45. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 12.36 and a beta of 0.97.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million during the quarter, compared to analysts' expectations 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 previous year, the firm posted $1.49 earnings per share. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

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 $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, September 15th. Comerica's dividend payout ratio (DPR) is presently 54.41%.

Insider Transactions at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 2,100 shares of the 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 sale, the executive vice president directly owned 9,424 shares of the company's stock, valued at approximately $631,690.72. This represents a 18.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider James Mcgregor Carr sold 4,000 shares of the firm'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 completion of the sale, the insider owned 33,471 shares in the company, valued at $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

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.