Comerica Incorporated (NYSE:CMA) Shares Sold by Azora Capital LP

Azora Capital LP lowered its position in Comerica Incorporated (NYSE:CMA - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,235,685 shares of the financial services provider's stock after selling 994,684 shares during the quarter. Comerica makes up approximately 3.4% of Azora Capital LP's portfolio, making the stock its 11th biggest position. Azora Capital LP owned approximately 0.94% of Comerica worth $76,427,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Comerica during the 3rd quarter worth $42,000. Tidal Investments LLC increased its position in Comerica by 96.2% in the 3rd quarter. Tidal Investments LLC now owns 32,138 shares of the financial services provider's stock valued at $1,925,000 after acquiring an additional 15,758 shares during the period. Franklin Resources Inc. lifted its position in Comerica by 9.3% during the 3rd quarter. Franklin Resources Inc. now owns 14,690 shares of the financial services provider's stock worth $901,000 after acquiring an additional 1,255 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock valued at $51,309,000 after purchasing an additional 490,468 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Comerica by 8.9% in the fourth quarter. GAMMA Investing LLC now owns 6,084 shares of the financial services provider's stock valued at $376,000 after purchasing an additional 499 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CMA shares. Argus raised shares of Comerica to a "hold" rating in a research note on Friday, January 31st. DA Davidson cut their price target on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $63.00 to $55.00 in a report on Monday, April 7th. Keefe, Bruyette & Woods dropped their target price on Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Evercore ISI cut Comerica from an "in-line" rating to an "underperform" rating and reduced their price target for the company from $65.00 to $50.00 in a report on Tuesday, April 22nd. Five 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's stock. According to data from MarketBeat.com, Comerica presently has a consensus rating of "Hold" and a consensus target price of $62.84.

Comerica Trading Down 1.7 %

Shares of NYSE:CMA traded down $0.95 during trading on Tuesday, reaching $54.84. 1,648,593 shares of the stock were exchanged, compared to its average volume of 2,203,757. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 10.92 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. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The firm's 50-day moving average price is $55.91 and its 200 day moving average price is $62.32.

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

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 annualized dividend and a dividend yield of 5.18%. Comerica's payout ratio is currently 53.69%.

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.