Comerica Incorporated (NYSE:CMA) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC boosted its stake in shares of Comerica Incorporated (NYSE:CMA) by 26.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 413,690 shares of the financial services provider’s stock after buying an additional 87,310 shares during the period. Natixis Advisors LLC owned 0.31% of Comerica worth $24,784,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CMA. V Square Quantitative Management LLC acquired a new stake in Comerica during the third quarter worth about $36,000. Family Firm Inc. purchased a new stake in shares of Comerica in the 2nd quarter valued at $37,000. UMB Bank n.a. lifted its stake in Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 208 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its holdings in Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 300 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Price Performance

Shares of NYSE:CMA opened at $68.28 on Tuesday. Comerica Incorporated has a 12 month low of $42.55 and a 12 month high of $71.63. The firm has a market capitalization of $8.98 billion, a P/E ratio of 17.07 and a beta of 1.22. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. The company’s fifty day moving average price is $62.15 and its 200 day moving average price is $55.82.

Comerica (NYSE:CMA) last posted its earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a return on equity of 12.54% and a net margin of 11.17%. During the same quarter in the previous year, the firm earned $1.84 earnings per share. As a group, sell-side analysts predict that Comerica Incorporated will post 5.39 earnings per share for the current fiscal year.

Comerica announced that its board has approved a stock 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 reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Friday, December 13th. Comerica’s dividend payout ratio is currently 71.00%.

Insider Activity

In other Comerica news, EVP Bruce Mitchell sold 7,564 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total transaction of $470,480.80. Following the transaction, the executive vice president now directly owns 16,428 shares of the company’s stock, valued at approximately $1,021,821.60. This trade represents a 31.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Allysun C. Fleming sold 1,392 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction 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 $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,001 shares of company stock valued at $1,123,650. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on CMA shares. Barclays increased their price target on shares of Comerica from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. DA Davidson increased their target price on shares of Comerica from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Robert W. Baird boosted their price target on shares of Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on Comerica from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, Morgan Stanley boosted their target price on Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.43.

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.