Massmutual Trust Co. FSB ADV Acquires 1,618 Shares of Comerica Incorporated (CMA)

Massmutual Trust Co. FSB ADV increased its position in Comerica Incorporated (NYSE:CMA) by 6,223.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,644 shares of the financial services provider’s stock after buying an additional 1,618 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Comerica were worth $113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc increased its stake in shares of Comerica by 3.5% in the third quarter. Vanguard Group Inc now owns 18,993,812 shares of the financial services provider’s stock worth $1,713,241,000 after buying an additional 634,716 shares during the period. Neuberger Berman Group LLC increased its position in Comerica by 2.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,229,064 shares of the financial services provider’s stock valued at $381,464,000 after purchasing an additional 94,875 shares during the period. TIAA CREF Investment Management LLC increased its position in Comerica by 11.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,553,649 shares of the financial services provider’s stock valued at $320,539,000 after purchasing an additional 371,809 shares during the period. Bank of New York Mellon Corp increased its position in Comerica by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 2,909,556 shares of the financial services provider’s stock valued at $199,857,000 after purchasing an additional 182,556 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Comerica by 21.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,428,526 shares of the financial services provider’s stock valued at $219,052,000 after purchasing an additional 420,694 shares during the period. 84.40% of the stock is currently owned by institutional investors.

A number of research analysts have issued reports on the stock. B. Riley reduced their price objective on shares of Comerica from $87.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 26th. ValuEngine downgraded shares of Comerica from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 21st. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wedbush downgraded shares of Comerica from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $86.00 to $85.00 in a research report on Wednesday, March 13th. Finally, Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 6th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and a consensus target price of $93.80.

In related news, insider Paul R. Obermeyer sold 8,200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $86.75, for a total value of $711,350.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Peter William Guilfoile sold 2,922 shares of the company’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $82.26, for a total transaction of $240,363.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,565 shares of company stock worth $1,603,348. 0.98% of the stock is currently owned by company insiders.

Shares of CMA stock opened at $76.08 on Tuesday. Comerica Incorporated has a 12 month low of $63.69 and a 12 month high of $101.05. The firm has a market cap of $11.58 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.86.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 16th. The financial services provider reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.08. Comerica had a net margin of 34.24% and a return on equity of 15.84%. The firm had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $863.43 million. During the same quarter in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, analysts expect that Comerica Incorporated will post 8.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.67 dividend. This is a boost from Comerica’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.68 dividend on an annualized basis and a yield of 3.52%. Comerica’s payout ratio is presently 37.02%.

Comerica declared that its Board of Directors has initiated a share buyback program on Tuesday, January 22nd that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business 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 middle market businesses, multinational corporations, and governmental entities.

Read More: What is Net Asset Value (NAV)?

Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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