Comerica Incorporated (NYSE:CMA) Stock Position Decreased by XTX Topco Ltd

XTX Topco Ltd decreased its position in Comerica Incorporated (NYSE:CMA - Free Report) by 65.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,563 shares of the financial services provider's stock after selling 12,351 shares during the period. XTX Topco Ltd's holdings in Comerica were worth $393,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

CMA has been the topic of several analyst reports. Wells Fargo & Company upgraded Comerica from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $51.00 to $73.00 in a report on Friday, November 15th. Barclays raised their price target on Comerica from $56.00 to $66.00 and gave the stock an "underweight" rating in a research note on Monday, October 21st. The Goldman Sachs Group upped their price objective on shares of Comerica from $71.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their target price on shares of Comerica from $72.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Comerica from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $67.27.

Comerica Stock Down 0.1 %

Shares of CMA stock traded down $0.09 on Monday, hitting $66.49. The stock had a trading volume of 1,948,848 shares, compared to its average volume of 2,121,114. The stock's 50 day moving average is $66.44 and its 200-day moving average is $58.19. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 16.62 and a beta of 1.23. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. 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 (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.16. Comerica had a net margin of 11.17% and a return on equity of 12.54%. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $806.49 million. During the same period in the prior year, the company posted $1.84 EPS. As a group, research analysts expect that Comerica Incorporated will post 5.37 earnings per share for the current year.

Comerica Dividend Announcement

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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Friday, December 13th. Comerica's payout ratio is 71.00%.

Comerica declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 5th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP Bruce Mitchell sold 7,564 shares of the business's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total value of $470,480.80. Following the completion of the sale, the executive vice president now directly owns 16,428 shares of the company's stock, valued at $1,021,821.60. The trade was a 31.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Allysun C. Fleming sold 1,392 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares in the company, valued at $600,885.90. The trade was a 13.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,456 shares of company stock worth $977,287. 0.19% of the stock is currently owned by insiders.

About Comerica

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.