New York State Teachers Retirement System Sells 17,109 Shares of Comerica Incorporated (NYSE:CMA)

New York State Teachers Retirement System decreased its position in Comerica Incorporated (NYSE:CMA - Free Report) by 10.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,562 shares of the financial services provider's stock after selling 17,109 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Comerica worth $9,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Comerica during the 3rd quarter valued at approximately $36,000. Family Firm Inc. bought a new stake in shares of Comerica in the second quarter valued at approximately $37,000. UMB Bank n.a. grew its stake in shares of Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider's stock worth $38,000 after acquiring an additional 208 shares during the last quarter. Versant Capital Management Inc increased its position in Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider's stock worth $43,000 after acquiring an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC raised 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 during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Trading Down 0.8 %

NYSE:CMA traded down $0.50 on Monday, hitting $62.39. 1,338,416 shares of the stock were exchanged, compared to its average volume of 2,146,567. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.97. Comerica Incorporated has a 52 week low of $40.41 and a 52 week high of $66.06. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 15.66 and a beta of 1.22. The company's 50-day moving average price is $59.43 and its 200 day moving average price is $54.53.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, topping 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 business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. During the same period in the previous year, the firm posted $1.84 earnings per share. On average, equities research analysts forecast that Comerica Incorporated will post 5.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of research analyst reports. DA Davidson upped their price objective on shares of Comerica from $64.00 to $68.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Bank of America lowered Comerica from a "neutral" rating to an "underperform" rating and decreased their price objective for the stock from $55.00 to $52.00 in a report on Monday, October 7th. StockNews.com raised Comerica from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Evercore ISI boosted their price target on shares of Comerica from $64.00 to $69.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Finally, 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. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has a consensus rating of "Hold" and a consensus price target of $62.81.

Insider Activity

In related news, EVP James Harry Weber sold 6,500 shares of Comerica 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Bruce Mitchell sold 7,564 shares of the company's stock in a transaction on Tuesday, October 22nd. The shares were 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 owns 16,428 shares in the company, valued at $1,021,821.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Harry Weber sold 6,500 shares of Comerica stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $63.23, for a total value of $410,995.00. Following the transaction, the executive vice president now owns 15,773 shares in the company, valued at approximately $997,326.79. 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 in the last 90 days. 0.19% of the stock is owned by company 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.