Elevated Capital Advisors LLC Sells 1,009 Shares of Comerica Incorporated (NYSE:CMA)

Elevated Capital Advisors LLC lessened its holdings in shares of Comerica Incorporated (NYSE:CMA) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,381 shares of the financial services provider’s stock after selling 1,009 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Comerica were worth $921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Comerica by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider’s stock worth $8,867,000 after acquiring an additional 1,858 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Comerica by 3.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider’s stock worth $4,793,000 after acquiring an additional 2,580 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Comerica by 7.5% in the 1st quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 356 shares in the last quarter. Mission Wealth Management LP grew its stake in shares of Comerica by 11.3% in the 1st quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 644 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Comerica by 13.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock worth $3,375,000 after acquiring an additional 7,418 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Trading Up 0.4 %

Shares of Comerica stock opened at $62.30 on Wednesday. Comerica Incorporated has a 12-month low of $37.40 and a 12-month high of $66.06. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 12.39 and a beta of 1.23. 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 company’s 50-day moving average price is $58.28 and its 200-day moving average price is $53.90.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period in the prior year, the business earned $1.84 earnings per share. On average, equities analysts expect that Comerica Incorporated will post 5.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday. The Goldman Sachs Group increased their price target on shares of Comerica from $63.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and increased their price target for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th. Bank of America lowered shares of Comerica from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $55.00 to $52.00 in a research report on Monday, October 7th. Finally, Wells Fargo & Company increased their price target on shares of Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $62.57.

Insider Buying and Selling

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. This represents a 0.00 % 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. 0.19% of the stock is owned by company insiders.

Comerica 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.