tru Independence LLC Sells 370 Shares of Comerica Incorporated (NYSE:CMA)

tru Independence LLC decreased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 87,723 shares of the financial services provider’s stock after selling 370 shares during the period. tru Independence LLC owned approximately 0.07% of Comerica worth $4,477,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Spire Wealth Management increased its holdings in Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Comerica during the 2nd quarter worth about $37,000. UMB Bank n.a. increased its stake in shares of Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC grew its holdings in Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CMA. Wells Fargo & Company cut their target price on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a report on Wednesday, June 12th. Barclays dropped their price objective on Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group lowered their price target on Comerica from $69.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. JPMorgan Chase & Co. cut their price objective on Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.05.

Comerica Trading Down 0.3 %

NYSE CMA opened at $54.87 on Friday. Comerica Incorporated has a 12 month low of $37.40 and a 12 month high of $58.50. 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 stock has a 50 day moving average of $53.94 and a 200-day moving average of $52.06. The company has a market cap of $7.28 billion, a PE ratio of 10.91 and a beta of 1.23.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the firm posted $2.01 EPS. On average, equities research analysts anticipate that Comerica Incorporated will post 5.05 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 annualized dividend and a yield of 5.18%. Comerica’s dividend payout ratio is 56.46%.

Insider Activity

In related 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 transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

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.