Assenagon Asset Management S.A. Has $26.07 Million Stake in Comerica Incorporated (NYSE:CMA)

Assenagon Asset Management S.A. grew its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 97.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 435,085 shares of the financial services provider's stock after purchasing an additional 214,426 shares during the quarter. Assenagon Asset Management S.A. owned 0.33% of Comerica worth $26,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in Comerica during the 3rd quarter valued at $36,000. Family Firm Inc. acquired a new position in shares of Comerica in the second quarter worth about $37,000. UMB Bank n.a. boosted its holdings in Comerica by 39.3% in the second 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. Versant Capital Management Inc boosted its holdings in Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 817 shares during the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Comerica Stock Performance

Comerica stock traded down $1.17 during mid-day trading on Friday, hitting $61.77. 1,374,673 shares of the company's stock traded hands, compared to its average volume of 2,160,406. Comerica Incorporated has a one year low of $37.54 and a one year high of $66.06. The firm has a 50 day moving average price of $58.70 and a 200 day moving average price of $54.07. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The company has a market cap of $8.19 billion, a PE ratio of 12.28 and a beta of 1.23.

Comerica (NYSE:CMA - Get Free Report) last announced 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. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $806.49 million. During the same quarter in the previous year, the company earned $1.84 earnings per share. On average, equities analysts forecast that Comerica Incorporated will post 5.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CMA shares. Wedbush upgraded Comerica from a "neutral" rating to an "outperform" rating and increased their target price for the company from $52.00 to $75.00 in a research note on Tuesday, September 24th. StockNews.com upgraded shares of Comerica from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. Barclays raised their price objective on shares of Comerica from $56.00 to $66.00 and gave the stock an "underweight" rating in a report on Monday, October 21st. Truist Financial upped their target price on shares of Comerica from $66.00 to $70.00 and gave the company a "hold" rating in a research note on Monday, October 21st. Finally, Raymond James raised 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 report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Comerica currently has a consensus rating of "Hold" and a consensus price target of $62.57.

Insider Activity at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP James Harry Weber sold 6,500 shares of the firm's stock in a transaction on 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 sale, the executive vice president now directly owns 15,773 shares of the company's stock, valued at $997,326.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christine M. Moore sold 2,545 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,609 shares of company stock valued at $1,027,839 over the last 90 days. 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.