Choreo LLC Has $242,000 Position in Comerica Incorporated (NYSE:CMA)

Choreo LLC lowered its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 54.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,038 shares of the financial services provider's stock after selling 4,827 shares during the quarter. Choreo LLC's holdings in Comerica were worth $242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in shares of Comerica by 2.0% during the fourth quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock worth $672,000 after acquiring an additional 211 shares in the last quarter. Xponance Inc. grew its position in Comerica by 1.6% in the first quarter. Xponance Inc. now owns 15,346 shares of the financial services provider's stock valued at $906,000 after purchasing an additional 238 shares in the last quarter. Townsquare Capital LLC grew its position in Comerica by 4.6% in the fourth quarter. Townsquare Capital LLC now owns 5,811 shares of the financial services provider's stock valued at $359,000 after purchasing an additional 256 shares in the last quarter. UMB Bank n.a. grew its position in Comerica by 19.4% in the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after purchasing an additional 289 shares in the last quarter. Finally, Fiduciary Alliance LLC grew its position in Comerica by 3.1% in the first quarter. Fiduciary Alliance LLC now owns 9,784 shares of the financial services provider's stock valued at $578,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMA. Citigroup raised their target price on shares of Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $63.00 to $55.00 in a research report on Monday, April 7th. The Goldman Sachs Group decreased their price objective on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird decreased their price objective on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Comerica from $52.00 to $60.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $63.25.

Comerica Trading Down 1.5%

CMA traded down $0.98 during trading on Friday, reaching $66.59. 1,930,519 shares of the company's stock were exchanged, compared to its average volume of 2,863,545. Comerica Incorporated has a one year low of $48.12 and a one year high of $73.45. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $8.56 billion, a PE ratio of 12.76 and a beta of 0.94. The firm has a fifty day moving average price of $60.89 and a two-hundred day moving average price of $59.90.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The firm had revenue of $849.00 million for the quarter, compared to analyst estimates of $844.39 million. During the same period in the previous year, the firm posted $1.49 EPS. As a group, equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.71 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.3%. Comerica's payout ratio is 54.41%.

Comerica 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.