Louisiana State Employees Retirement System Trims Position in Comerica Incorporated (NYSE:CMA)

Louisiana State Employees Retirement System decreased its position in shares of Comerica Incorporated (NYSE:CMA) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,100 shares of the financial services provider’s stock after selling 2,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Comerica were worth $3,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Comerica by 51.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after buying an additional 1,370,886 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Comerica by 1.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after acquiring an additional 19,068 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Comerica by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock valued at $78,288,000 after purchasing an additional 130,458 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Comerica by 6.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,431,750 shares of the financial services provider’s stock worth $73,077,000 after purchasing an additional 87,101 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Comerica by 21.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 923,009 shares of the financial services provider’s stock worth $50,756,000 after purchasing an additional 160,103 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on CMA shares. Barclays upped their target price on shares of Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Bank of America cut shares of Comerica from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $55.00 to $52.00 in a research report on Monday, October 7th. Stephens boosted their target price on Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their price target on Comerica from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Finally, Morgan Stanley boosted their price objective on Comerica from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Comerica presently has a consensus rating of “Hold” and an average target price of $62.57.

Insider Buying and Selling at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the firm’s 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 transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bruce Mitchell sold 7,564 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the completion of the sale, the executive vice president now directly owns 16,428 shares of the company’s stock, valued at $1,021,821.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,609 shares of company stock worth $1,027,839 over the last three months. Insiders own 0.19% of the company’s stock.

Comerica Stock Performance

Shares of CMA stock opened at $61.77 on Friday. Comerica Incorporated has a 12 month low of $37.54 and a 12 month high of $66.06. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The company has a market cap of $8.19 billion, a P/E ratio of 12.28 and a beta of 1.23. The firm has a fifty day moving average price of $58.70 and a 200 day moving average price of $54.07.

Comerica (NYSE:CMA) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the prior year, the firm posted $1.84 EPS. Sell-side analysts predict that Comerica Incorporated will post 5.12 earnings per share for the current fiscal year.

Comerica Company 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.