AE Wealth Management LLC Has $7.44 Million Stock Position in Comerica Incorporated (NYSE:CMA)

AE Wealth Management LLC cut its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 27.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,926 shares of the financial services provider's stock after selling 48,455 shares during the quarter. AE Wealth Management LLC owned approximately 0.10% of Comerica worth $7,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMA. Oak Thistle LLC bought a new stake in shares of Comerica in the 1st quarter valued at about $652,000. Allianz Asset Management GmbH raised its holdings in shares of Comerica by 2.1% in the 1st quarter. Allianz Asset Management GmbH now owns 321,743 shares of the financial services provider's stock valued at $19,002,000 after purchasing an additional 6,684 shares during the period. Impact Partnership Wealth LLC raised its holdings in shares of Comerica by 45.7% in the 1st quarter. Impact Partnership Wealth LLC now owns 8,724 shares of the financial services provider's stock valued at $515,000 after purchasing an additional 2,736 shares during the period. Forum Financial Management LP raised its holdings in shares of Comerica by 6.1% in the 1st quarter. Forum Financial Management LP now owns 7,558 shares of the financial services provider's stock valued at $446,000 after purchasing an additional 432 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Comerica by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 36,800 shares of the financial services provider's stock valued at $2,173,000 after purchasing an additional 300 shares during the period. 80.74% of the stock is owned by institutional investors.

Comerica Trading Up 0.7%

Shares of CMA stock traded up $0.51 during trading hours on Friday, hitting $67.99. 3,551,749 shares of the company's stock traded hands, compared to its average volume of 2,510,828. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $73.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. The stock's 50 day simple moving average is $59.76 and its 200 day simple moving average is $59.71. The stock has a market cap of $8.93 billion, a PE ratio of 13.02 and a beta of 0.92.

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

Comerica Dividend Announcement

The business also recently declared 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. This represents a $2.84 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Friday, June 13th. Comerica's payout ratio is 54.41%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMA. Royal Bank Of Canada decreased their price target on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price target on shares of Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. UBS Group set a $64.00 price target on shares of Comerica and gave the company a "neutral" rating in a research note on Monday. Piper Sandler upped their price target on shares of Comerica from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Truist Financial upped their price target on shares of Comerica from $61.00 to $68.00 and gave the company a "hold" rating in a research note on Thursday. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Comerica currently has an average rating of "Hold" and an average target price of $63.25.

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.