F M Investments LLC Invests $1.21 Million in Comerica Incorporated (NYSE:CMA)

F M Investments LLC purchased a new stake in Comerica Incorporated (NYSE:CMA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,289 shares of the financial services provider’s stock, valued at approximately $1,210,000.

A number of other institutional investors have also recently bought and sold shares of CMA. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $10,031,000 after acquiring an additional 3,595,036 shares during the period. Dimensional Fund Advisors LP raised its stake in Comerica by 51.3% during 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 purchasing an additional 1,370,886 shares during the period. Samlyn Capital LLC acquired a new stake in Comerica during the 2nd quarter valued at $35,375,000. Principal Financial Group Inc. lifted 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 in the last quarter. Finally, Hsbc Holdings PLC boosted its position 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 worth $27,608,000 after buying an additional 355,229 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

Shares of NYSE:CMA opened at $62.89 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $59.43 and a 200 day moving average price of $54.47. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 15.72 and a beta of 1.23. Comerica Incorporated has a twelve month low of $39.94 and a twelve month high of $66.06.

Comerica (NYSE:CMA) last issued 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. Comerica had a net margin of 11.17% and a return on equity of 12.54%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. During the same period in the prior year, the firm earned $1.84 EPS. Research analysts predict that Comerica Incorporated will post 5.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CMA. Royal Bank of Canada decreased their price objective on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Evercore ISI boosted their price objective on shares of Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a research report on Wednesday. Morgan Stanley increased their target price on shares of Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Barclays boosted their price target on shares of Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $69.00 in a report on Thursday, September 5th. Three 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. According to data from MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus target price of $62.81.

Insiders Place Their Bets

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 stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Comerica news, EVP James Harry Weber sold 6,500 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $63.23, for a total transaction of $410,995.00. Following the completion of the transaction, the executive vice president now owns 15,773 shares in the company, valued at $997,326.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christine M. Moore sold 2,545 shares of the company’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 value 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,609 shares of company stock worth $1,027,839. 0.19% of the stock is currently owned by company insiders.

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.