Comerica Incorporated (NYSE:CMA) Shares Sold by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC decreased its holdings in Comerica Incorporated (NYSE:CMA) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,198 shares of the financial services provider’s stock after selling 1,183 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Comerica were worth $878,000 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 shares of Comerica during the third quarter worth about $36,000. Wilmington Savings Fund Society FSB purchased a new stake in Comerica in the 3rd quarter valued at approximately $42,000. EverSource Wealth Advisors LLC raised its position in Comerica by 19.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 199 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new stake in shares of Comerica in the second quarter valued at about $79,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Comerica by 400.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 2,500 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CMA shares. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and raised their target price for the company from $52.00 to $75.00 in a report on Tuesday, September 24th. Morgan Stanley raised their target price on shares of Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Stephens upped their price target on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, DA Davidson raised their target price on shares of Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.14.

Comerica Price Performance

NYSE CMA traded up $0.78 on Monday, reaching $60.99. The company’s stock had a trading volume of 1,296,293 shares, compared to its average volume of 1,518,543. The firm’s 50 day moving average is $66.41 and its two-hundred day moving average is $60.05. The stock has a market cap of $8.02 billion, a PE ratio of 15.25 and a beta of 1.23. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. Comerica had a net margin of 11.17% and a return on equity of 12.54%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. During the same quarter in the previous year, the business posted $1.84 earnings per share. As a group, sell-side analysts predict that Comerica Incorporated will post 5.37 EPS for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.66%. Comerica’s dividend payout ratio (DPR) is 71.00%.

Comerica declared that its Board of Directors has approved a stock buyback program on Tuesday, November 5th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Allysun C. Fleming sold 1,392 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $470,480.80. Following the completion of the transaction, the executive vice president now owns 16,428 shares in the company, valued at $1,021,821.60. This represents a 31.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,456 shares of company stock valued at $977,287. 0.19% of the stock is owned by corporate insiders.

Comerica Company 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.