Raymond James & Associates Sells 47,231 Shares of Comerica Incorporated (NYSE:CMA)

Raymond James & Associates cut its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 32.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,002 shares of the financial services provider's stock after selling 47,231 shares during the quarter. Raymond James & Associates owned approximately 0.07% of Comerica worth $5,871,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Comerica during the third quarter worth $36,000. Family Firm Inc. bought a new position in Comerica in the second quarter valued at about $37,000. UMB Bank n.a. raised its position 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 position in Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider's stock worth $43,000 after buying an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider's stock worth $49,000 after purchasing an additional 300 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Stock Down 1.3 %

Shares of NYSE:CMA traded down $0.82 during midday trading on Friday, hitting $62.89. 1,559,966 shares of the company's stock were exchanged, compared to its average volume of 2,150,379. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.96. Comerica Incorporated has a 12 month low of $39.94 and a 12 month high of $66.06. The company has a market cap of $8.27 billion, a PE ratio of 15.72 and a beta of 1.23. The stock has a 50 day moving average price of $59.43 and a 200-day moving average price of $54.47.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same period in the previous year, the company posted $1.84 EPS. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Truist Financial raised their price objective on Comerica from $66.00 to $70.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Wells Fargo & Company raised their price target on shares of Comerica from $43.00 to $51.00 and gave the stock an "underweight" rating in a report on Monday, October 21st. Royal Bank of Canada reduced their price objective on shares of Comerica from $58.00 to $56.00 and set an "outperform" rating on the stock in a research note on Monday, July 22nd. Morgan Stanley lifted 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. Finally, StockNews.com raised shares of Comerica from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Comerica presently has an average rating of "Hold" and an average price target of $62.81.

Insider Activity at Comerica

In other Comerica news, EVP James Harry Weber sold 6,500 shares of Comerica stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total transaction of $410,995.00. Following the transaction, the executive vice president now directly owns 15,773 shares of the company's stock, valued at $997,326.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Bruce Mitchell sold 7,564 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction 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 approximately $1,021,821.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Harry Weber sold 6,500 shares of the business's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $63.23, for a total value 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 approximately $997,326.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,609 shares of company stock valued at $1,027,839. 0.19% of the stock is 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.