Comerica Incorporated (NYSE:CMA) Shares Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC increased its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 18.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 125,592 shares of the financial services provider's stock after buying an additional 19,522 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.10% of Comerica worth $7,162,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CMA. SG Americas Securities LLC increased its holdings in Comerica by 66.2% during the 2nd quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider's stock worth $3,209,000 after purchasing an additional 25,040 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Comerica by 39.3% during the second quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider's stock worth $11,262,000 after acquiring an additional 62,269 shares during the period. Point72 Europe London LLP purchased a new position in shares of Comerica during the 2nd quarter worth approximately $4,767,000. Vaughan Nelson Investment Management L.P. raised its position in Comerica by 1.1% in the second 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 acquiring an additional 19,068 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Comerica by 158.2% in the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider's stock valued at $1,218,000 after purchasing an additional 12,454 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CMA shares. Morgan Stanley raised their price target on Comerica from $63.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Evercore ISI increased their price target on shares of Comerica from $64.00 to $69.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. StockNews.com upgraded Comerica from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Barclays increased their target price on Comerica from $56.00 to $66.00 and gave the company an "underweight" rating in a report on Monday, October 21st. Finally, DA Davidson increased their price objective on Comerica from $64.00 to $68.00 and gave the company a "neutral" rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Comerica currently has an average rating of "Hold" and a consensus price target of $66.67.

Comerica Stock Down 0.8 %

Shares of NYSE CMA traded down $0.54 during trading on Friday, reaching $69.38. 1,667,904 shares of the stock were exchanged, compared to its average volume of 1,452,821. The business's 50-day moving average price is $65.45 and its 200 day moving average price is $57.46. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 17.35 and a beta of 1.23. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.97.

Comerica (NYSE:CMA - Get Free Report) last announced its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 12.54% and a net margin of 11.17%. During the same period last year, the firm earned $1.84 earnings per share. As a group, equities analysts forecast that Comerica Incorporated will post 5.37 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders 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 dividend yield of 4.09%. The ex-dividend date of this dividend is Friday, December 13th. Comerica's dividend payout ratio (DPR) is currently 71.00%.

Comerica declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 5th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insider Transactions at Comerica

In other news, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the completion of the transaction, the executive vice president now directly owns 16,428 shares of the company's stock, valued at approximately $1,021,821.60. The trade was a 31.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James Harry Weber sold 6,500 shares of the firm's stock in a transaction dated Thursday, October 24th. The stock was 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 directly owns 15,773 shares in the company, valued at $997,326.79. This represents a 29.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,456 shares of company stock valued at $977,287. 0.19% of the stock is currently owned by corporate insiders.

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.