4,010 Shares in Comerica Incorporated (NYSE:CMA) Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC bought a new stake in shares of Comerica Incorporated (NYSE:CMA) in the third quarter, HoldingsChannel reports. The institutional investor bought 4,010 shares of the financial services provider’s stock, valued at approximately $240,000.

Other hedge funds have also made changes to their positions in the company. Greenwood Capital Associates LLC bought a new stake in shares of Comerica in the third quarter valued at about $854,000. FSM Wealth Advisors LLC purchased a new position in Comerica during the 3rd quarter valued at about $215,000. Van ECK Associates Corp increased its position in Comerica by 1.1% during the 3rd quarter. Van ECK Associates Corp now owns 48,152 shares of the financial services provider’s stock valued at $2,986,000 after purchasing an additional 525 shares during the period. F M Investments LLC bought a new stake in shares of Comerica in the 3rd quarter valued at about $1,210,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Comerica by 43.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,120 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 1,251 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Trading Up 11.1 %

Shares of Comerica stock opened at $70.31 on Thursday. The stock has a market cap of $9.25 billion, a PE ratio of 17.58 and a beta of 1.22. The firm has a fifty day moving average price of $59.69 and a 200 day moving average price of $54.70. Comerica Incorporated has a 1 year low of $40.41 and a 1 year high of $70.38. 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 (NYSE:CMA) last released 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. Comerica had a return on equity of 12.54% and a net margin of 11.17%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same quarter last year, the business posted $1.84 EPS. Equities research analysts predict that Comerica Incorporated will post 5.37 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Friday, December 13th. Comerica’s dividend payout ratio (DPR) is presently 71.00%.

Comerica declared that its board has authorized a share buyback program on Tuesday, November 5th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $52.00 to $75.00 in a research note on Tuesday, September 24th. Stephens boosted their price target on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. DA Davidson raised their price objective on Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Royal Bank of Canada cut their target price on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, Wells Fargo & Company increased their price target on shares of Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Three equities research 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. Based on data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average target price of $62.81.

Insider Activity at Comerica

In other Comerica news, EVP James Harry Weber sold 6,500 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $63.23, for a total value of $410,995.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 completion of the transaction, the executive vice president now owns 15,773 shares in the company, valued at $997,326.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,609 shares of company stock worth $1,027,839. 0.19% of the stock is owned by company insiders.

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.