First Dallas Securities Inc. Sells 585 Shares of Comerica Incorporated (NYSE:CMA)

First Dallas Securities Inc. decreased its holdings in Comerica Incorporated (NYSE:CMA) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,230 shares of the financial services provider’s stock after selling 585 shares during the period. First Dallas Securities Inc.’s holdings in Comerica were worth $369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Spire Wealth Management lifted its stake in shares of Comerica by 95.9% in the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the last quarter. Family Firm Inc. purchased a new stake in Comerica during the 2nd quarter valued at $37,000. UMB Bank n.a. lifted its position in Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after buying an additional 208 shares during the last quarter. Versant Capital Management Inc boosted its stake in Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after buying an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC increased its position in Comerica by 50.2% during the first 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 last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 0.5 %

Shares of CMA traded up $0.25 during mid-day trading on Thursday, hitting $55.08. 446,258 shares of the company traded hands, compared to its average volume of 2,173,299. The business has a 50 day moving average of $53.71 and a 200 day moving average of $51.99. The company has a market capitalization of $7.30 billion, a PE ratio of 10.90 and a beta of 1.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a 1-year low of $37.40 and a 1-year high of $58.50.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the company posted $2.01 earnings per share. Equities research analysts anticipate that Comerica Incorporated will post 5.05 EPS for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, September 13th. This represents a $2.84 annualized dividend and a yield of 5.16%. Comerica’s payout ratio is presently 56.46%.

Insider Buying and Selling at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CMA shares. Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $69.00 in a report on Thursday. Raymond James raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research note on Tuesday, July 2nd. 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. The Goldman Sachs Group decreased their price target on Comerica from $69.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Finally, StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Comerica currently has an average rating of “Hold” and an average target price of $56.05.

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.