1834 Investment Advisors Co. Sells 20,714 Shares of Comerica Incorporated (NYSE:CMA)

Key Points

• 1834 Investment Advisors Co. reduced its stake in Comerica Incorporated by 22.6%, selling 20,714 shares and leaving them with 70,856 shares valued at approximately $4.18 million.
• Comerica's stock currently has a market capitalization of $8.55 billion and reported earnings of $1.42 per share, exceeding analysts' expectations.
• The firm recently announced a quarterly dividend of $0.71 to be paid on October 1st, representing an annualized dividend yield of 4.3%.

1834 Investment Advisors Co. cut its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 22.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,856 shares of the financial services provider's stock after selling 20,714 shares during the period. 1834 Investment Advisors Co. owned about 0.05% of Comerica worth $4,185,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Bessemer Group Inc. boosted its position in Comerica by 2.0% in the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock valued at $672,000 after buying an additional 211 shares during the last quarter. Meeder Asset Management Inc. boosted its position in Comerica by 0.3% in the 1st quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider's stock valued at $4,985,000 after buying an additional 221 shares during the last quarter. Xponance Inc. boosted its position in Comerica by 1.6% in the 1st quarter. Xponance Inc. now owns 15,346 shares of the financial services provider's stock valued at $906,000 after buying an additional 238 shares during the last quarter. Townsquare Capital LLC boosted its position in Comerica by 4.6% in the 4th quarter. Townsquare Capital LLC now owns 5,811 shares of the financial services provider's stock valued at $359,000 after buying an additional 256 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Comerica by 5.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,654 shares of the financial services provider's stock valued at $275,000 after buying an additional 257 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CMA shares. The Goldman Sachs Group decreased their price objective on Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. DA Davidson set a $60.00 price target on Comerica and gave the company a "neutral" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods increased their price target on Comerica from $69.00 to $73.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Stephens reissued an "equal weight" rating on shares of Comerica in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. increased their price target on Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Comerica has an average rating of "Hold" and a consensus target price of $64.40.

Comerica Stock Up 1.2%

Shares of NYSE CMA traded up $0.79 during mid-day trading on Friday, hitting $66.80. The company had a trading volume of 1,249,938 shares, compared to its average volume of 2,893,904. The company has a market capitalization of $8.59 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 12.06 and a beta of 0.94. The firm has a 50-day simple moving average of $61.87 and a two-hundred day simple moving average of $59.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. Comerica Incorporated has a one year low of $48.12 and a one year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.19. The company had revenue of $849.00 million during the quarter, compared to analysts' expectations of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%. During the same quarter last year, the company earned $1.49 EPS. On average, equities analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.84 annualized dividend and a dividend yield of 4.3%. Comerica's dividend payout ratio (DPR) is presently 54.41%.

About Comerica

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.