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

Choreo LLC trimmed its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 54.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,038 shares of the financial services provider's stock after selling 4,827 shares during the period. Choreo LLC's holdings in Comerica were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its holdings in shares of Comerica by 11.2% during the first quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider's stock worth $780,000 after acquiring an additional 1,326 shares during the period. Bank of Nova Scotia acquired a new stake in Comerica during the 4th quarter worth approximately $1,320,000. Bessemer Group Inc. boosted its stake in Comerica by 3.8% in the 1st quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider's stock valued at $666,000 after purchasing an additional 414 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Comerica by 11.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,173 shares of the financial services provider's stock valued at $6,293,000 after purchasing an additional 11,148 shares during the period. Finally, tru Independence LLC increased its position in Comerica by 5.9% during the 1st quarter. tru Independence LLC now owns 85,075 shares of the financial services provider's stock worth $5,024,000 after buying an additional 4,772 shares during the period. 80.74% of the stock is owned by institutional investors.

Comerica Trading Down 0.6%

NYSE CMA traded down $0.40 on Thursday, hitting $67.57. The company's stock had a trading volume of 2,767,911 shares, compared to its average volume of 2,807,077. The company's 50-day moving average is $60.68 and its 200 day moving average is $59.91. The firm has a market cap of $8.88 billion, a PE ratio of 12.94 and a beta of 0.92. Comerica Incorporated has a 1-year low of $48.12 and a 1-year 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.

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, beating analysts' consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%. During the same period in the prior year, the business posted $1.49 earnings per share. As a group, analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Comerica's dividend payout ratio is currently 54.41%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and decreased their price target for the company from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Royal Bank Of Canada dropped their price target on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley downgraded Comerica from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Wells Fargo & Company lowered their price objective on Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup upped their target price on Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Comerica presently has an average rating of "Hold" and an average price target of $63.25.

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.