tru Independence LLC Has $4.84 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

tru Independence LLC lowered its stake in Comerica Incorporated (NYSE:CMA) by 0.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,093 shares of the financial services provider’s stock after selling 540 shares during the period. tru Independence LLC owned approximately 0.07% of Comerica worth $4,844,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMA. Spire Wealth Management increased its stake in Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 235 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Comerica in the 4th quarter worth about $36,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Comerica during the 4th quarter worth approximately $36,000. FNY Investment Advisers LLC bought a new position in Comerica during the fourth quarter worth $50,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Comerica in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Trading Down 0.2 %

NYSE:CMA traded down $0.08 during mid-day trading on Tuesday, reaching $50.72. 342,538 shares of the company’s stock traded hands, compared to its average volume of 2,227,931. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day moving average price of $50.64 and a 200-day moving average price of $51.95. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 10.10 and a beta of 1.25. Comerica Incorporated has a 12-month low of $37.40 and a 12-month high of $57.39.

Comerica (NYSE:CMA) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the business posted $2.39 EPS. On average, sell-side analysts predict that Comerica Incorporated will post 5.08 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.60%. Comerica’s dividend payout ratio is 56.46%.

Insider Activity

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the sale, the executive vice president now directly owns 7,236 shares in the company, valued at approximately $380,541.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CMA. Piper Sandler boosted their price target on shares of Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Citigroup downgraded Comerica from a “buy” rating to a “neutral” rating and cut their price target for the company from $60.00 to $56.00 in a research note on Monday, May 6th. Jefferies Financial Group cut their target price on Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Stephens restated an “overweight” rating and set a $64.00 price objective on shares of Comerica in a research note on Tuesday, June 11th. Finally, The Goldman Sachs Group dropped their price target on shares of Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Comerica currently has an average rating of “Hold” and a consensus target price of $56.04.

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.