Comerica Incorporated (NYSE:CMA) Stock Position Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in Comerica Incorporated (NYSE:CMA - Free Report) by 65.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,170 shares of the financial services provider's stock after selling 83,351 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Comerica were worth $2,732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Wedbush Securities Inc. raised its holdings in Comerica by 39.1% in the 4th quarter. Wedbush Securities Inc. now owns 6,015 shares of the financial services provider's stock worth $372,000 after acquiring an additional 1,690 shares during the last quarter. Wells Fargo & Company MN lifted its position in Comerica by 31.9% during the fourth quarter. Wells Fargo & Company MN now owns 109,322 shares of the financial services provider's stock valued at $6,762,000 after purchasing an additional 26,415 shares during the period. Prudential PLC acquired a new position in Comerica in the fourth quarter valued at approximately $1,875,000. ExodusPoint Capital Management LP boosted its position in Comerica by 244.5% in the 4th quarter. ExodusPoint Capital Management LP now owns 257,184 shares of the financial services provider's stock worth $15,907,000 after purchasing an additional 182,538 shares in the last quarter. Finally, Arete Wealth Advisors LLC purchased a new stake in Comerica during the fourth quarter worth $296,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Comerica Price Performance

Comerica stock traded up $1.06 during midday trading on Thursday, reaching $54.81. 123,542 shares of the company were exchanged, compared to its average volume of 2,126,148. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 10.93 and a beta of 0.96. 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 simple moving average is $56.61 and its 200-day simple moving average is $62.53. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last released 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. The firm had revenue of $829.00 million during the quarter, compared to analysts' expectations 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 company earned $1.29 EPS. On average, analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be issued 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 5.18%. Comerica's dividend payout ratio is currently 53.69%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Argus raised Comerica to a "hold" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods cut their price objective on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. cut shares of Comerica from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $64.00 to $52.00 in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group cut their price target on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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.