Bank of New York Mellon Corp Sells 24,423 Shares of Comerica Incorporated (NYSE:CMA)

Bank of New York Mellon Corp lessened its position in Comerica Incorporated (NYSE:CMA - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,336,796 shares of the financial services provider's stock after selling 24,423 shares during the period. Bank of New York Mellon Corp owned approximately 1.02% of Comerica worth $78,951,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CMA. Dimensional Fund Advisors LP raised its holdings in shares of Comerica by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider's stock worth $311,464,000 after acquiring an additional 114,072 shares during the period. North Reef Capital Management LP lifted its holdings in shares of Comerica by 15.7% in the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock valued at $250,492,000 after purchasing an additional 550,000 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Comerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock worth $137,039,000 after buying an additional 103,118 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Comerica by 29.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider's stock valued at $132,952,000 after buying an additional 492,381 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Comerica by 26.9% in the 4th quarter. Northern Trust Corp now owns 1,900,261 shares of the financial services provider's stock valued at $117,531,000 after acquiring an additional 402,992 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CMA shares. UBS Group upgraded shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price objective on the stock in a report on Thursday, April 10th. The Goldman Sachs Group decreased their price objective on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $63.00 to $55.00 in a report on Monday, April 7th. Raymond James Financial reissued a "market perform" rating on shares of Comerica in a research note on Tuesday. Finally, Jefferies Financial Group assumed coverage on Comerica in a research report on Wednesday, May 21st. They issued an "underperform" rating and a $47.00 price objective for the company. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $62.35.

Comerica Price Performance

CMA traded down $0.56 during trading on Friday, hitting $63.45. 1,343,510 shares of the stock traded hands, compared to its average volume of 1,998,721. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.96 and a quick ratio of 0.96. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $73.45. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 11.96 and a beta of 0.92. The business has a 50 day moving average price of $58.12 and a 200 day moving average price of $59.55.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. The firm had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. Comerica had a net margin of 14.89% and a return on equity of 11.59%. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

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 is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.48%. Comerica's dividend payout ratio (DPR) is presently 53.69%.

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.