New York State Teachers Retirement System Boosts Stake in Comerica Incorporated $CMA

New York State Teachers Retirement System grew its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 9.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 147,613 shares of the financial services provider's stock after acquiring an additional 12,651 shares during the period. New York State Teachers Retirement System owned about 0.11% of Comerica worth $8,805,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMA. MorganRosel Wealth Management LLC purchased a new position in shares of Comerica during the 1st quarter worth approximately $33,000. Gen Wealth Partners Inc purchased a new stake in shares of Comerica in the 1st quarter worth approximately $34,000. Geneos Wealth Management Inc. grew its stake in shares of Comerica by 41.8% in the 1st 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Comerica in the 1st quarter worth approximately $55,000. Finally, MAI Capital Management grew its stake in shares of 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 buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley upgraded Comerica from an "underweight" rating to an "equal weight" rating and set a $83.00 price target on the stock in a research note on Tuesday, October 7th. Jefferies Financial Group upped their price target on Comerica from $75.00 to $85.00 and gave the stock a "hold" rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $93.00 price target (up previously from $73.00) on shares of Comerica in a research note on Friday, October 10th. Weiss Ratings restated a "buy (b-)" rating on shares of Comerica in a research note on Wednesday, October 8th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Comerica has a consensus rating of "Hold" and an average target price of $71.55.

Comerica Stock Performance

Shares of CMA opened at $74.85 on Monday. The business's fifty day simple moving average is $70.93 and its two-hundred day simple moving average is $62.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $83.22. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 14.28 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last issued its earnings results on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%.The business had revenue of $824.00 million for the quarter. Research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, September 15th. Comerica's dividend payout ratio (DPR) is 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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