Stifel Financial Corp Grows Position in Comerica Incorporated (NYSE:CMA)

Stifel Financial Corp lifted its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 23.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,730 shares of the financial services provider's stock after purchasing an additional 49,861 shares during the period. Stifel Financial Corp owned about 0.20% of Comerica worth $15,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CMA. V Square Quantitative Management LLC purchased a new stake in Comerica during the 3rd quarter worth approximately $36,000. Family Firm Inc. purchased a new stake in shares of Comerica during the second quarter worth approximately $37,000. UMB Bank n.a. raised its stake in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 208 shares during the last quarter. Summit Securities Group LLC lifted its holdings in Comerica by 22.4% in the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 202 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Comerica during the 2nd quarter worth $56,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of recent research reports. Piper Sandler increased their target price on shares of Comerica from $64.00 to $72.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Wells Fargo & Company upgraded shares of Comerica from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $51.00 to $73.00 in a report on Friday, November 15th. Morgan Stanley raised their target price on shares of Comerica from $63.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. Wedbush upgraded Comerica from a "neutral" rating to an "outperform" rating and upped their price target for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th. Finally, Barclays lifted 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. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, Comerica has an average rating of "Hold" and an average price target of $67.27.

Comerica Price Performance

Comerica stock traded down $1.13 during mid-day trading on Wednesday, reaching $66.53. The company had a trading volume of 2,134,200 shares, compared to its average volume of 2,105,439. The stock's 50-day simple moving average is $65.79 and its 200-day simple moving average is $57.73. The company has a market capitalization of $8.75 billion, a P/E ratio of 16.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45.

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 analysts' consensus estimates of $1.17 by $0.16. Comerica had a return on equity of 12.54% and a net margin of 11.17%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. During the same period in the previous year, the business earned $1.84 earnings per share. On average, equities analysts predict that Comerica Incorporated will post 5.37 EPS for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Friday, December 13th. Comerica's payout ratio is currently 71.00%.

Comerica announced that its board has initiated a stock repurchase program on Tuesday, November 5th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Comerica

In related news, EVP Allysun C. Fleming sold 1,392 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the transaction, the executive vice president now owns 8,730 shares of the company's stock, valued at approximately $600,885.90. The trade was a 13.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bruce Mitchell sold 7,564 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction of $470,480.80. Following the sale, the executive vice president now directly owns 16,428 shares in the company, valued at $1,021,821.60. This represents a 31.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,456 shares of company stock valued at $977,287 over the last quarter. Corporate insiders own 0.19% of the company's stock.

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.