Elevated Capital Advisors LLC Has $921,000 Stake in Comerica Incorporated (NYSE:CMA)

Elevated Capital Advisors LLC trimmed its position in shares of Comerica Incorporated (NYSE:CMA) by 6.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,381 shares of the financial services provider’s stock after selling 1,009 shares during the period. Elevated Capital Advisors LLC’s holdings in Comerica were worth $921,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Comerica during the third quarter worth about $36,000. Family Firm Inc. acquired a new stake in shares of Comerica in the 2nd quarter valued at approximately $37,000. UMB Bank n.a. boosted its stake in shares of Comerica by 39.3% in the 2nd 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 in the last quarter. Versant Capital Management Inc boosted its stake in shares of Comerica by 2,723.3% in the 2nd 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 in the last quarter. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Comerica by 50.2% in 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. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CMA shares. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and raised their price target for the company from $52.00 to $75.00 in a research note on Tuesday, September 24th. Stephens raised their price target on shares of Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday. Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of Comerica from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Monday. Finally, Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $69.00 in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $62.57.

Comerica Stock Performance

Shares of CMA stock opened at $62.30 on Wednesday. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 12.39 and a beta of 1.23. Comerica Incorporated has a 52 week low of $37.40 and a 52 week high of $66.06. 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 firm has a 50 day moving average of $58.28 and a 200-day moving average of $53.90.

Comerica (NYSE:CMA) last announced its quarterly earnings data 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. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the firm posted $1.84 EPS. On average, equities analysts forecast that Comerica Incorporated will post 5.12 earnings per share for the current year.

Insider Transactions at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

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.