Comerica Incorporated (NYSE:CMA) Stock Holdings Reduced by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 72.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,178 shares of the financial services provider's stock after selling 13,778 shares during the quarter. Cresset Asset Management LLC's holdings in Comerica were worth $324,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CMA. Blue Trust Inc. grew its position in shares of Comerica by 5.2% in the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock worth $242,000 after acquiring an additional 200 shares in the last quarter. Bessemer Group Inc. boosted its position in Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock valued at $672,000 after purchasing an additional 211 shares during the period. V Square Quantitative Management LLC boosted 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 during the period. US Bancorp DE boosted its position in Comerica by 2.0% during the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock valued at $731,000 after purchasing an additional 227 shares during the period. Finally, MCF Advisors LLC boosted its position in Comerica by 56.3% during the 4th 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. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Stock Down 0.9%

Shares of CMA stock traded down $0.51 on Tuesday, reaching $58.09. 822,239 shares of the company's stock traded hands, compared to its average volume of 2,194,054. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. 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 company has a market capitalization of $7.63 billion, a P/E ratio of 11.57 and a beta of 0.92. The business's 50 day moving average price is $55.58 and its two-hundred day moving average price is $61.99.

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 for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. On average, equities analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently declared 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 of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.89%. Comerica's dividend payout ratio is 53.69%.

Analyst Ratings Changes

CMA has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Stephens lowered Comerica from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Truist Financial reduced their price target on Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada reduced their price target on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $63.22.

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.