F M Investments LLC Invests $1.21 Million in Comerica Incorporated (NYSE:CMA)

F M Investments LLC acquired a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 20,289 shares of the financial services provider's stock, valued at approximately $1,210,000.

A number of other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Comerica by 105.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider's stock worth $10,031,000 after buying an additional 3,595,036 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Comerica by 51.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider's stock worth $206,468,000 after acquiring an additional 1,370,886 shares during the last quarter. Samlyn Capital LLC acquired a new position in shares of Comerica in the second quarter worth about $35,375,000. Principal Financial Group Inc. boosted its holdings in Comerica by 311.2% in the second quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider's stock valued at $33,845,000 after purchasing an additional 501,857 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in Comerica by 183.5% during the 2nd quarter. Hsbc Holdings PLC now owns 548,786 shares of the financial services provider's stock valued at $27,608,000 after purchasing an additional 355,229 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CMA. JPMorgan Chase & Co. upped their target price on Comerica from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Stephens raised their price objective on shares of Comerica from $64.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Piper Sandler boosted their target price on shares of Comerica from $51.00 to $52.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd. Wedbush raised shares of Comerica from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $52.00 to $75.00 in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group boosted their price objective on Comerica from $63.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $62.81.

Insider Buying and Selling

In related news, EVP Christine M. Moore sold 2,545 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares of the company's stock, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the company'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 transaction, the executive vice president now owns 27,910 shares of the company's stock, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bruce Mitchell sold 7,564 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were 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 of the company's stock, valued at $1,021,821.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,609 shares of company stock valued at $1,027,839 over the last quarter. Corporate insiders own 0.19% of the company's stock.

Comerica Stock Performance

Comerica stock traded down $0.82 during mid-day trading on Friday, hitting $62.89. 1,559,966 shares of the company's stock traded hands, compared to its average volume of 2,030,783. Comerica Incorporated has a one year low of $39.94 and a one year high of $66.06. The company has a market cap of $8.27 billion, a PE ratio of 15.72 and a beta of 1.22. The firm has a 50 day moving average price of $59.43 and a 200 day moving average price of $54.50. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.97.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.17 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same quarter last year, the company earned $1.84 EPS. On average, equities analysts forecast that Comerica Incorporated will post 5.37 EPS for the current year.

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.