Mackenzie Financial Corp Has $433,000 Stock Holdings in Comerica Incorporated (NYSE:CMA)

Mackenzie Financial Corp cut its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 97.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,755 shares of the financial services provider's stock after selling 295,388 shares during the period. Mackenzie Financial Corp's holdings in Comerica were worth $433,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CMA. Fortitude Family Office LLC acquired a new stake in Comerica in the 4th quarter valued at $36,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Comerica in the 4th quarter valued at $36,000. Authentikos Wealth Advisory LLC acquired a new stake in Comerica in the 3rd quarter valued at $47,000. FNY Investment Advisers LLC bought a new position in Comerica in the 4th quarter valued at $50,000. Finally, CVA Family Office LLC bought a new position in Comerica in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Insider Buying and Selling at Comerica

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now directly owns 8,314 shares in the company, valued at $454,276.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares of the company's stock, valued at $454,276.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,921 shares of company stock valued at $630,693. Company insiders own 0.19% of the company's stock.

Comerica Trading Down 0.2 %

NYSE:CMA traded down $0.08 on Friday, reaching $52.07. The company's stock had a trading volume of 975,483 shares, compared to its average volume of 1,664,392. Comerica Incorporated has a 1-year low of $28.40 and a 1-year high of $57.39. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market cap of $6.90 billion, a PE ratio of 10.35 and a beta of 1.27. The business's 50-day moving average price is $51.54 and its two-hundred day moving average price is $49.72.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $807.57 million. During the same period in the previous year, the firm earned $2.39 earnings per share. Equities research analysts anticipate that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.45%. Comerica's payout ratio is 56.46%.

Analyst Ratings Changes

Several equities analysts have issued reports on CMA shares. Deutsche Bank Aktiengesellschaft started coverage on Comerica in a research report on Wednesday, April 10th. They issued a "hold" rating and a $59.00 price objective for the company. Piper Sandler lifted their price objective on Comerica from $54.00 to $56.00 and gave the company a "neutral" rating in a research report on Friday. Keefe, Bruyette & Woods cut their price objective on Comerica from $60.00 to $58.00 and set a "market perform" rating for the company in a research report on Monday, January 22nd. DA Davidson reiterated a "neutral" rating and issued a $56.00 price objective on shares of Comerica in a research report on Wednesday, March 6th. Finally, Barclays boosted their target price on Comerica from $49.00 to $59.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $56.98.

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.