Plan Group Financial LLC Acquires 1,739 Shares of Comerica Incorporated (NYSE:CMA)

Plan Group Financial LLC boosted its position in shares of Comerica Incorporated (NYSE:CMA) by 15.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,886 shares of the financial services provider’s stock after acquiring an additional 1,739 shares during the quarter. Plan Group Financial LLC’s holdings in Comerica were worth $772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMA. Price T Rowe Associates Inc. MD raised its position in Comerica by 105.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after acquiring an additional 3,595,036 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after purchasing an additional 1,370,886 shares during the last quarter. Samlyn Capital LLC acquired a new position in shares of Comerica in the second quarter valued at $35,375,000. Principal Financial Group Inc. increased its holdings in shares of Comerica by 311.2% in the second quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider’s stock valued at $33,845,000 after purchasing an additional 501,857 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Comerica by 183.5% in the second quarter. Hsbc Holdings PLC now owns 548,786 shares of the financial services provider’s stock valued at $27,608,000 after purchasing an additional 355,229 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CMA. Truist Financial upped their price objective on shares of Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday. StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $52.00 to $75.00 in a report on Tuesday, September 24th. Barclays upped their price target on shares of Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Piper Sandler upped their price target on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Comerica currently has an average rating of “Hold” and an average target price of $62.57.

Insider Transactions at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Comerica Stock Up 0.4 %

CMA stock opened at $62.30 on Wednesday. The stock has a market capitalization of $8.26 billion, a P/E ratio of 12.39 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a 12 month low of $37.40 and a 12 month high of $66.06. The firm has a 50-day moving average price of $58.28 and a 200-day moving average price of $53.90.

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 firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter in the prior year, the business earned $1.84 earnings per share. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.12 EPS for the current fiscal year.

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.