Comerica Bank Sells 14,720 Shares of Comerica Incorporated (NYSE:CMA)

Comerica Bank trimmed its stake in Comerica Incorporated (NYSE:CMA) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,952 shares of the financial services provider’s stock after selling 14,720 shares during the period. Comerica Bank owned approximately 0.10% of Comerica worth $8,161,000 as of its most recent SEC filing.

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

Comerica Price Performance

Shares of NYSE CMA opened at $56.44 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company’s 50-day moving average is $56.24 and its 200 day moving average is $62.44. The stock has a market capitalization of $7.41 billion, a P/E ratio of 11.24 and a beta of 0.96.

Comerica (NYSE:CMA) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the prior year, the company earned $1.29 EPS. On average, sell-side analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a dividend yield of 5.03%. Comerica’s payout ratio is 53.69%.

Analyst Ratings Changes

A number of analysts recently weighed in on CMA shares. Keefe, Bruyette & Woods dropped their target price on Comerica from $77.00 to $68.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird cut their price objective on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. cut shares of Comerica from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their price target on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley downgraded Comerica from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $63.00 to $55.00 in a report on Monday, April 7th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.84.

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.