Amalgamated Bank Has $2.48 Million Holdings in Comerica Incorporated (NYSE:CMA)

Amalgamated Bank lowered its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 30.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,384 shares of the financial services provider's stock after selling 17,887 shares during the quarter. Amalgamated Bank's holdings in Comerica were worth $2,479,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Comerica by 51.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider's stock valued at $206,468,000 after acquiring an additional 1,370,886 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Comerica by 1.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider's stock worth $93,621,000 after purchasing an additional 19,068 shares in the last quarter. Bank of New York Mellon Corp raised its position in Comerica by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider's stock worth $78,288,000 after buying an additional 130,458 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Comerica by 6.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,431,750 shares of the financial services provider's stock valued at $73,077,000 after purchasing an additional 87,101 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Comerica by 21.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 923,009 shares of the financial services provider's stock valued at $50,756,000 after purchasing an additional 160,103 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

CMA has been the topic of several research analyst reports. Wedbush upgraded shares of Comerica from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $52.00 to $75.00 in a report on Tuesday, September 24th. Piper Sandler upped their price target on Comerica from $51.00 to $52.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. Bank of America downgraded Comerica from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $55.00 to $52.00 in a report on Monday, October 7th. DA Davidson increased their price target on Comerica from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Monday, October 21st. Finally, Barclays increased their price objective on Comerica from $56.00 to $66.00 and gave the stock an "underweight" rating in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $62.81.

Insider Activity at Comerica

In related news, EVP James Harry Weber sold 6,500 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total value of $410,995.00. Following the completion of the sale, the executive vice president now owns 15,773 shares in the company, valued at approximately $997,326.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Christine M. Moore sold 2,545 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP James Harry Weber sold 6,500 shares of the firm's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total transaction of $410,995.00. Following the completion of the transaction, the executive vice president now owns 15,773 shares in the company, valued at $997,326.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,609 shares of company stock valued at $1,027,839 over the last ninety days. Insiders own 0.19% of the company's stock.

Comerica Stock Down 1.5 %

Shares of Comerica stock traded down $1.03 during trading on Tuesday, reaching $69.75. The company had a trading volume of 376,855 shares, compared to its average volume of 2,138,331. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 17.70 and a beta of 1.22. The firm's fifty day moving average is $60.72 and its 200-day moving average is $55.18. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97. Comerica Incorporated has a fifty-two week low of $40.41 and a fifty-two week high of $71.27.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.17 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same quarter in the prior year, the firm earned $1.84 EPS. On average, analysts anticipate that Comerica Incorporated will post 5.39 EPS for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, December 13th. Comerica's dividend payout ratio is presently 71.00%.

Comerica declared that its board has approved a share repurchase program on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

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.