Ameriprise Financial Inc. Decreases Stock Position in Comerica Incorporated (NYSE:CMA)

Ameriprise Financial Inc. cut its position in Comerica Incorporated (NYSE:CMA - Free Report) by 40.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,008 shares of the financial services provider's stock after selling 194,408 shares during the period. Ameriprise Financial Inc. owned 0.22% of Comerica worth $17,955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings 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 worth $26,000 after acquiring an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new position in Comerica in the fourth quarter valued at approximately $31,000. MCF Advisors LLC raised its holdings in Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after purchasing an additional 228 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after buying an additional 221 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after buying an additional 523 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Performance

Comerica stock traded up $0.02 during trading hours on Thursday, reaching $55.91. 220,677 shares of the stock were exchanged, compared to its average volume of 2,197,206. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The stock has a market cap of $7.35 billion, a P/E ratio of 11.12 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm's 50 day moving average is $55.56 and its 200 day moving average is $61.92.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. The business had revenue of $829.00 million for the quarter, compared to analyst estimates 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 earnings per share. Analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

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 paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio (DPR) is 53.69%.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Argus raised Comerica to a "hold" rating in a report on Friday, January 31st. The Goldman Sachs Group reduced their target price on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada decreased their target price on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, Truist Financial cut their price target on Comerica from $65.00 to $57.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.37.

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.