Fiduciary Alliance LLC Has $587,000 Stock Position in Comerica Incorporated (NYSE:CMA)

Fiduciary Alliance LLC grew its position in Comerica Incorporated (NYSE:CMA) by 12.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,486 shares of the financial services provider’s stock after purchasing an additional 1,041 shares during the period. Fiduciary Alliance LLC’s holdings in Comerica were worth $587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Comerica in the third quarter worth about $36,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the third quarter worth approximately $42,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Comerica by 19.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 199 shares during the period. Cranbrook Wealth Management LLC acquired a new stake in shares of Comerica during the second quarter worth approximately $79,000. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Comerica by 400.0% during the second quarter. Sunbelt Securities Inc. now owns 2,500 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 2,000 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of Comerica stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares in the company, valued at $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction of $470,480.80. Following the sale, 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. Over the last quarter, insiders have sold 15,456 shares of company stock valued at $977,287. 0.19% of the stock is owned by company insiders.

Comerica Trading Up 1.3 %

Shares of CMA stock opened at $60.99 on Tuesday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The firm’s fifty day simple moving average is $66.38 and its 200 day simple moving average is $60.14. The firm has a market capitalization of $8.02 billion, a P/E ratio of 15.25 and a beta of 1.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97.

Comerica (NYSE:CMA) last announced its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $806.49 million. During the same quarter in the previous year, the firm 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 announced that its Board of Directors has approved a stock buyback plan on Tuesday, November 5th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Comerica Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stephens raised their price target on shares of Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Wells Fargo & Company upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $51.00 to $73.00 in a report on Friday, November 15th. JPMorgan Chase & Co. cut their price objective on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Evercore ISI raised their price objective on shares of Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Comerica has an average rating of “Hold” and an average target price of $67.14.

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.