Everence Capital Management Inc. Has $984,000 Stock Holdings in Comerica Incorporated (NYSE:CMA)

Everence Capital Management Inc. increased its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 266.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 16,430 shares of the financial services provider's stock after purchasing an additional 11,950 shares during the period. Everence Capital Management Inc.'s holdings in Comerica were worth $984,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Pitcairn Co. boosted its stake in shares of Comerica by 2.9% during the 1st quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider's stock worth $374,000 after acquiring an additional 190 shares during the period. EverSource Wealth Advisors LLC boosted its position in Comerica by 19.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider's stock worth $66,000 after purchasing an additional 199 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of Comerica by 0.7% in the first quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider's stock valued at $1,498,000 after purchasing an additional 201 shares during the last quarter. Summit Securities Group LLC raised its position in shares of Comerica by 22.4% in the second 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 during the period. Finally, UMB Bank n.a. lifted its stake in shares of Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider's stock worth $38,000 after buying an additional 208 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of research reports. Raymond James upgraded shares of Comerica from a "market perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a research note on Tuesday, July 2nd. Wells Fargo & Company increased their target price on Comerica from $43.00 to $51.00 and gave the stock an "underweight" rating in a research note on Monday. Stephens boosted their price target on Comerica from $64.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday. Keefe, Bruyette & Woods raised Comerica from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $50.00 to $69.00 in a report on Thursday, September 5th. Finally, Barclays lifted their target price on Comerica from $56.00 to $66.00 and gave the stock an "underweight" rating in a report on Monday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $62.19.

Comerica Price Performance

Comerica stock traded down $2.92 during midday trading on Monday, reaching $62.02. The company's stock had a trading volume of 2,779,377 shares, compared to its average volume of 2,162,192. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The stock has a market cap of $8.22 billion, a PE ratio of 12.36 and a beta of 1.23. Comerica Incorporated has a 52 week low of $37.40 and a 52 week high of $66.06. The business has a 50-day moving average price of $57.96 and a 200-day moving average price of $53.77.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period in the prior year, the company earned $1.84 EPS. On average, sell-side analysts predict that Comerica Incorporated will post 5.12 EPS for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, September 13th. Comerica's payout ratio is 56.46%.

Insider Buying and Selling

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

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.