Capital World Investors Reduces Position in Comerica Incorporated (NYSE:CMA)

Capital World Investors reduced its holdings in shares of Comerica Incorporated (NYSE:CMA) by 0.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 708,698 shares of the financial services provider’s stock after selling 701 shares during the period. Capital World Investors owned about 0.54% of Comerica worth $43,833,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Trust Co. of Vermont grew its holdings in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares during the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Comerica during the fourth quarter valued at approximately $31,000. MCF Advisors LLC boosted its holdings in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Comerica in the third quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC raised its position in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CMA. Robert W. Baird raised their price target on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Morgan Stanley downgraded Comerica from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $63.00 to $55.00 in a report on Monday, April 7th. Finally, UBS Group raised Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price objective on the stock in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $68.16.

Comerica Stock Down 4.2 %

Comerica stock opened at $50.70 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a market cap of $6.65 billion, a PE ratio of 10.10 and a beta of 0.96. The business’s 50-day simple moving average is $58.55 and its two-hundred day simple moving average is $62.87.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.14 by $0.11. The business had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the business posted $1.29 EPS. Equities analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.60%. Comerica’s payout ratio is currently 56.57%.

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.