SkyOak Wealth LLC Sells 902 Shares of Comerica Incorporated (NYSE:CMA)

SkyOak Wealth LLC cut its holdings in Comerica Incorporated (NYSE:CMA) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,065 shares of the financial services provider’s stock after selling 902 shares during the quarter. SkyOak Wealth LLC’s holdings in Comerica were worth $684,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Trust Co. of Vermont boosted its position in Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after buying an additional 321 shares during the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Comerica in the 4th quarter valued at $31,000. V Square Quantitative Management LLC bought a new stake in shares of Comerica in the third quarter worth about $36,000. MCF Advisors LLC raised its holdings in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after buying an additional 228 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the third quarter worth $42,000. 80.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. DA Davidson dropped their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Barclays upped their target price on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Truist Financial raised Comerica to a “hold” rating in a report on Monday, January 6th. Piper Sandler boosted their price objective on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Bank of America downgraded shares of Comerica from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $55.00 to $52.00 in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.33.

Comerica Trading Up 0.0 %

NYSE CMA opened at $67.39 on Friday. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The business’s fifty day moving average is $65.21 and its 200 day moving average is $61.29. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 13.42 and a beta of 1.26.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the firm earned $1.46 earnings per share. As a group, sell-side analysts expect that Comerica Incorporated will post 5.35 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were given a $0.71 dividend. The ex-dividend date was Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.21%. Comerica’s dividend payout ratio (DPR) is currently 56.57%.

Comerica announced that its board has initiated a stock repurchase plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Comerica

In related news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the transaction, the executive vice president now directly owns 8,730 shares of the company’s stock, valued at $600,885.90. This represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

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.