Comerica Incorporated $CMA Shares Sold by Petiole USA ltd

Key Points

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Petiole USA ltd trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 13.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,855 shares of the financial services provider's stock after selling 8,000 shares during the period. Comerica comprises approximately 2.1% of Petiole USA ltd's investment portfolio, making the stock its 21st largest holding. Petiole USA ltd's holdings in Comerica were worth $2,944,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in shares of Comerica during the 1st quarter worth $33,000. Gen Wealth Partners Inc bought a new stake in shares of Comerica during the 1st quarter worth $34,000. Quarry LP raised its stake in Comerica by 152.0% in the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 523 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Comerica in the 1st quarter valued at about $55,000. Finally, UMB Bank n.a. raised its stake in Comerica by 19.4% in the 1st quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after acquiring an additional 289 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Comerica

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 transaction of $269,120.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Allysun C. Fleming sold 2,100 shares of Comerica 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 transaction, the executive vice president owned 9,424 shares of the company's stock, valued at approximately $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company's stock.

Comerica Stock Performance

Shares of CMA stock traded up $2.6340 on Friday, hitting $69.5740. The company had a trading volume of 2,357,988 shares, compared to its average volume of 1,984,994. The firm has a market cap of $8.94 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 12.19 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 quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. The company has a 50-day moving average price of $63.64 and a 200-day moving average price of $60.18.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results 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. The firm 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 business earned $1.49 earnings per share. As a group, equities research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a dividend of $0.71 per share. 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 currently 54.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup boosted their price objective on Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. UBS Group set a $64.00 price target on Comerica and gave the company a "neutral" rating in a research report on Monday, July 21st. Raymond James Financial reissued a "market perform" rating on shares of Comerica in a report on Tuesday, July 8th. Stephens reaffirmed an "equal weight" rating on shares of Comerica in a research report on Monday, July 21st. Finally, Piper Sandler upped their price target on Comerica from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Comerica has a consensus rating of "Hold" and an average price target of $64.40.

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.