Mutual of America Capital Management LLC Cuts Stake in Comerica Incorporated $CMA

Mutual of America Capital Management LLC reduced its holdings in shares of Comerica Incorporated (NYSE:CMA) by 9.2% during the third quarter, Holdings Channel reports. The fund owned 59,357 shares of the financial services provider’s stock after selling 5,995 shares during the period. Mutual of America Capital Management LLC’s holdings in Comerica were worth $4,067,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CMA. Pacer Advisors Inc. bought a new position in shares of Comerica during the third quarter valued at about $1,160,000. Gateway Investment Advisers LLC boosted its holdings in Comerica by 87.6% during the 3rd quarter. Gateway Investment Advisers LLC now owns 50,686 shares of the financial services provider’s stock valued at $3,473,000 after acquiring an additional 23,675 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Comerica by 37.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 69,132 shares of the financial services provider’s stock valued at $4,792,000 after acquiring an additional 18,864 shares during the period. First Trust Advisors LP grew its position in Comerica by 11.9% during the 2nd quarter. First Trust Advisors LP now owns 654,103 shares of the financial services provider’s stock worth $39,017,000 after acquiring an additional 69,392 shares during the last quarter. Finally, Applied Finance Capital Management LLC purchased a new position in Comerica in the 2nd quarter worth approximately $207,000. 80.74% of the stock is currently owned by institutional investors.

Comerica Stock Performance

Comerica stock opened at $92.82 on Friday. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $99.41. The stock’s 50 day simple moving average is $88.13 and its two-hundred day simple moving average is $77.32. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of 17.55 and a beta of 1.03.

Comerica (NYSE:CMA) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.18. The firm had revenue of $850.00 million during the quarter, compared to analyst estimates of $851.32 million. Comerica had a return on equity of 10.74% and a net margin of 15.07%.During the same quarter in the prior year, the company earned $1.20 EPS. As a group, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Monday, December 15th were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.1%. Comerica’s dividend payout ratio is currently 53.69%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CMA. Weiss Ratings reissued a “hold (c+)” rating on shares of Comerica in a research note on Wednesday, January 21st. UBS Group raised shares of Comerica from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a report on Tuesday, January 6th. Morgan Stanley upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective on the stock in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $93.00 price objective (up from $73.00) on shares of Comerica in a research note on Friday, October 10th. Finally, Piper Sandler set a $82.00 target price on Comerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.56.

Insider Buying and Selling

In other news, EVP James Harry Weber sold 8,798 shares of Comerica stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $98.04, for a total transaction of $862,555.92. Following the completion of the transaction, the executive vice president directly owned 20,543 shares in the company, valued at approximately $2,014,035.72. This trade represents a 29.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allysun C. Fleming sold 8,864 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $94.47, for a total value of $837,382.08. Following the completion of the sale, the executive vice president owned 4,785 shares in the company, valued at $452,038.95. The trade was a 64.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,662 shares of company stock worth $2,680,538 in the last three months. 0.19% of the stock is owned by corporate insiders.

Comerica Company Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.