Parallel Advisors LLC Sells 543 Shares of Comerica Incorporated (NYSE:CMA)

Posted by on May 2nd, 2023

Parallel Advisors LLC lessened its position in Comerica Incorporated (NYSE:CMA – Get Rating) by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,989 shares of the financial services provider’s stock after selling 543 shares during the quarter. Parallel Advisors LLC’s holdings in Comerica were worth $133,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CMA. Private Advisor Group LLC increased its holdings in shares of Comerica by 9.3% during the 1st quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock worth $605,000 after purchasing an additional 568 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Comerica by 22.7% during the 1st quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock worth $3,216,000 after purchasing an additional 6,590 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Comerica by 6.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock worth $1,581,000 after purchasing an additional 1,024 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Comerica by 8.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock worth $2,626,000 after purchasing an additional 2,163 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Comerica by 119.2% in the first quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock valued at $693,000 after acquiring an additional 4,165 shares during the period. Institutional investors own 81.91% of the company’s stock.

Comerica Stock Down 2.0 %

Shares of NYSE:CMA opened at $42.50 on Tuesday. Comerica Incorporated has a 52 week low of $29.17 and a 52 week high of $87.02. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.85 and a current ratio of 0.93. The company has a market capitalization of $5.59 billion, a PE ratio of 4.48, a PEG ratio of 1.18 and a beta of 1.14. The company has a 50 day moving average price of $50.21 and a two-hundred day moving average price of $62.87.

Comerica (NYSE:CMA – Get Rating) last issued its quarterly earnings data on Thursday, April 20th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.13. Comerica had a net margin of 30.16% and a return on equity of 24.34%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $966.40 million. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Analysts forecast that Comerica Incorporated will post 8.18 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Thursday, June 15th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 6.68%. The ex-dividend date is Wednesday, June 14th. Comerica’s dividend payout ratio is 29.93%.

Analyst Ratings Changes

CMA has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Comerica from $80.00 to $57.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. The Goldman Sachs Group lowered their target price on shares of Comerica from $83.00 to $61.00 and set a “neutral” rating on the stock in a research note on Thursday, March 30th. StockNews.com lowered shares of Comerica from a “hold” rating to a “sell” rating in a research report on Friday, April 14th. JPMorgan Chase & Co. lowered shares of Comerica from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $44.00 in a research report on Thursday, April 6th. Finally, Piper Sandler reduced their price target on shares of Comerica from $82.00 to $70.00 in a research report on Friday, March 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Comerica presently has an average rating of “Hold” and an average target price of $69.15.

Comerica Company Profile

(Get Rating)

Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services.

Read More

Institutional Ownership by Quarter for Comerica (NYSE:CMA)

Receive News & Ratings for Comerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica and related companies with MarketBeat.com's FREE daily email newsletter.