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

Comerica Bank cut its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities & 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 about 0.10% of Comerica worth $8,161,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CMA. Trust Co. of Vermont raised its stake 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 purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in Comerica during the fourth quarter worth $31,000. MCF Advisors LLC lifted its stake in 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 acquiring an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Comerica in the third quarter valued at $42,000. Finally, V Square Quantitative Management LLC grew its position 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 valued at $51,000 after acquiring an additional 221 shares during the period. Institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

CMA has been the subject of several recent analyst reports. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Robert W. Baird reduced their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group cut their price target on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Argus upgraded shares of Comerica to a "hold" rating in a report on Friday, January 31st. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $63.22.

Comerica Price Performance

Shares of CMA traded down $0.11 during midday trading on Wednesday, hitting $54.69. The company's stock had a trading volume of 1,540,720 shares, compared to its average volume of 2,201,115. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 10.89 and a beta of 0.92. The company's fifty day simple moving average is $55.91 and its two-hundred day simple moving average is $62.32.

Comerica (NYSE:CMA - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The firm had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. As a group, equities analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.19%. Comerica's dividend 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.