Impact Partnership Wealth LLC Purchases New Stake in Comerica Incorporated (NYSE:CMA)

Impact Partnership Wealth LLC acquired a new position in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,988 shares of the financial services provider’s stock, valued at approximately $370,000.

Several other hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont lifted its holdings in shares of Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares during the period. V Square Quantitative Management LLC acquired a new position in Comerica during the third quarter valued at approximately $36,000. MCF Advisors LLC lifted its stake in Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica in the 3rd quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Comerica by 19.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 199 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Insider Transactions at Comerica

In related news, EVP Allysun C. Fleming sold 1,392 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was 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 in the company, valued at approximately $600,885.90. This represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Comerica Stock Up 1.2 %

Shares of NYSE:CMA opened at $63.26 on Friday. The business’s 50-day moving average is $65.56 and its 200-day moving average is $60.88. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 12.60 and a beta of 1.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the business earned $1.46 EPS. Equities research analysts predict that Comerica Incorporated will post 5.36 earnings per share for the current year.

Comerica declared that its board has authorized a stock repurchase program on Tuesday, November 5th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Friday, December 13th. Comerica’s dividend payout ratio is currently 56.57%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. Bank of America downgraded shares of Comerica from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $55.00 to $52.00 in a research note on Monday, October 7th. StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Wells Fargo & Company upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $51.00 to $73.00 in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.33.

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.