Morton Brown Family Wealth LLC Takes Position in Comerica Incorporated (NYSE:CMA)

Morton Brown Family Wealth LLC acquired a new stake in shares of Comerica Incorporated (NYSE:CMA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,299 shares of the financial services provider’s stock, valued at approximately $138,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Comerica by 1.2% during the first quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider’s stock worth $8,867,000 after acquiring an additional 1,858 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Comerica by 3.1% during the first quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider’s stock worth $4,793,000 after buying an additional 2,580 shares during the period. HB Wealth Management LLC increased its position in Comerica by 7.5% during the first quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 356 shares during the last quarter. Mission Wealth Management LP lifted its stake in Comerica by 11.3% in the first quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 644 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Comerica by 13.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock valued at $3,375,000 after purchasing an additional 7,418 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Comerica news, EVP James Harry Weber sold 6,500 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $63.23, for a total value of $410,995.00. Following the completion of the transaction, the executive vice president now directly owns 15,773 shares of the company’s stock, valued at $997,326.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction of $470,480.80. Following the sale, the executive vice president now owns 16,428 shares of the company’s stock, valued at approximately $1,021,821.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 value of $410,995.00. Following the completion of the transaction, the executive vice president now directly owns 15,773 shares of the company’s stock, valued at $997,326.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,609 shares of company stock worth $1,027,839 in the last 90 days. 0.19% of the stock is owned by company insiders.

Comerica Trading Up 1.6 %

CMA traded up $0.97 during midday trading on Monday, hitting $62.74. The company’s stock had a trading volume of 358,740 shares, compared to its average volume of 2,151,743. The firm has a market cap of $8.32 billion, a P/E ratio of 12.44 and a beta of 1.23. Comerica Incorporated has a 52-week low of $37.92 and a 52-week 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 firm has a 50-day moving average price of $58.70 and a two-hundred day moving average price of $54.09.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the business earned $1.84 EPS. On average, research analysts anticipate that Comerica Incorporated will post 5.12 earnings per share for the current year.

Analyst Ratings Changes

CMA has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $52.00 to $75.00 in a research note on Tuesday, September 24th. DA Davidson increased their price objective on Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Morgan Stanley upped their target price on Comerica from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods raised shares of Comerica from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $50.00 to $69.00 in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.57.

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.