Comerica Incorporated (NYSE:CMA) Shares Sold by First Dallas Securities Inc.

First Dallas Securities Inc. reduced its position in Comerica Incorporated (NYSE:CMA) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,130 shares of the financial services provider’s stock after selling 1,100 shares during the period. First Dallas Securities Inc.’s holdings in Comerica were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in 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 acquiring an additional 199 shares during the period. Summit Securities Group LLC grew its holdings in shares of Comerica by 22.4% during the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock worth $56,000 after buying an additional 202 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Comerica by 39.3% during 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 in the last quarter. Centennial Wealth Advisory LLC grew its holdings in shares of Comerica by 5.2% in the third quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 252 shares during the period. Finally, Busey Bank grew its holdings in shares of Comerica by 4.5% in the second quarter. Busey Bank now owns 7,305 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 313 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Performance

NYSE:CMA opened at $67.70 on Tuesday. The firm’s fifty day moving average price is $65.60 and its 200 day moving average price is $57.61. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. 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 firm has a market cap of $8.90 billion, a price-to-earnings ratio of 16.93 and a beta of 1.23.

Comerica (NYSE:CMA) last released its earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 12.54% and a net margin of 11.17%. During the same quarter last year, the company earned $1.84 earnings per share. On average, sell-side analysts expect that Comerica Incorporated will post 5.37 EPS for the current year.

Comerica announced that its board has initiated a share buyback program on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.19%. Comerica’s dividend payout ratio is presently 71.00%.

Insider Buying and Selling at Comerica

In related news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at approximately $600,885.90. This represents a 13.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Harry Weber sold 6,500 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $63.23, for a total transaction of $410,995.00. Following the sale, the executive vice president now directly owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. This trade represents a 29.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,456 shares of company stock worth $977,287. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

CMA has been the subject of a number of analyst reports. Stephens upped their price objective on shares of Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $52.00 to $75.00 in a research note on Tuesday, September 24th. Truist Financial increased their target price on shares of Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group increased their price target on shares of Comerica from $71.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Comerica presently has an average rating of “Hold” and an average price target of $66.67.

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.