Cetera Investment Advisers Decreases Stake in Comerica Incorporated (NYSE:CMA)

Cetera Investment Advisers decreased its position in Comerica Incorporated (NYSE:CMA - Free Report) by 40.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,102 shares of the financial services provider's stock after selling 15,054 shares during the period. Cetera Investment Advisers' holdings in Comerica were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 purchasing an additional 114,072 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Comerica by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider's stock worth $274,092,000 after purchasing an additional 125,514 shares during the period. North Reef Capital Management LP raised its stake in shares of Comerica by 15.7% during the 4th 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 buying an additional 550,000 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Comerica by 3.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider's stock valued at $153,462,000 after buying an additional 72,391 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Comerica by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock valued at $137,039,000 after buying an additional 103,118 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Comerica Trading Up 2.1%

Shares of CMA stock traded up $1.20 during trading hours on Tuesday, hitting $57.39. The company had a trading volume of 1,497,990 shares, compared to its average volume of 2,189,699. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $7.54 billion, a PE ratio of 11.43 and a beta of 0.92. The company's fifty day moving average is $55.40 and its 200 day moving average is $61.61. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping 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 company had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. During the same period in the prior year, the firm earned $1.29 earnings per share. Research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal 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 dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 4.95%. Comerica's dividend payout ratio (DPR) is 53.69%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CMA shares. 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. Raymond James decreased their target price on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price target 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 cut their price objective for the company from $64.00 to $52.00 in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $62.37.

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.