Comerica Incorporated (NYSE:CMA) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 419,685 shares of the financial services provider's stock after selling 23,006 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.32% of Comerica worth $25,143,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CMA. V Square Quantitative Management LLC acquired a new position in shares of Comerica in the 3rd quarter valued at $36,000. Family Firm Inc. acquired a new position in shares of Comerica during the 2nd quarter valued at $37,000. UMB Bank n.a. lifted its holdings 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 valued at $38,000 after acquiring an additional 208 shares in the last quarter. Summit Securities Group LLC lifted its holdings in shares of Comerica by 22.4% during the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 202 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in shares of Comerica during the 2nd quarter valued at $56,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Insider Buying and Selling at Comerica

In other news, EVP Allysun C. Fleming sold 1,392 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the sale, the executive vice president now directly owns 8,730 shares of the company's stock, valued at approximately $600,885.90. This represents a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Harry Weber sold 6,500 shares of the company's stock in a transaction that occurred 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 approximately $997,326.79. This represents a 29.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,456 shares of company stock valued at $977,287 in the last ninety days. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Comerica from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, November 18th. The Goldman Sachs Group lifted their target price on shares of Comerica from $71.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Morgan Stanley lifted their target price on shares of Comerica from $63.00 to $67.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Bank of America downgraded shares of Comerica from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $55.00 to $52.00 in a research note on Monday, October 7th. Finally, Piper Sandler lifted their price target on shares of Comerica from $64.00 to $72.00 and gave the stock a "neutral" rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Comerica currently has a consensus rating of "Hold" and a consensus price target of $66.67.

Comerica Stock Performance

Shares of NYSE:CMA traded down $0.54 during trading on Friday, reaching $69.38. 1,667,904 shares of the company's stock traded hands, compared to its average volume of 2,103,135. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The company has a 50 day moving average of $65.25 and a 200-day moving average of $57.32. The stock has a market capitalization of $9.12 billion, a P/E ratio of 17.35 and a beta of 1.23.

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

Comerica announced that its board has approved a stock repurchase plan on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Friday, December 13th. Comerica's payout ratio is 71.00%.

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.