Comerica Incorporated (NYSE:CMA) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 52.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,283 shares of the financial services provider's stock after selling 16,855 shares during the period. Tidal Investments LLC's holdings in Comerica were worth $945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Atomi Financial Group Inc. lifted its holdings in Comerica by 9.7% in the fourth quarter. Atomi Financial Group Inc. now owns 4,000 shares of the financial services provider's stock valued at $247,000 after acquiring an additional 354 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Comerica during the 4th quarter valued at about $2,950,000. Gradient Investments LLC bought a new position in shares of Comerica in the 4th quarter worth approximately $311,000. Blue Trust Inc. boosted its holdings in shares of Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock worth $242,000 after buying an additional 200 shares during the last quarter. Finally, KBC Group NV grew its position in Comerica by 45.9% during the fourth quarter. KBC Group NV now owns 5,772 shares of the financial services provider's stock valued at $357,000 after buying an additional 1,817 shares during the period. 80.74% of the stock is owned by institutional investors.

Comerica Stock Down 0.3%

NYSE:CMA traded down $0.18 during trading hours on Friday, reaching $57.30. The company's stock had a trading volume of 280,816 shares, compared to its average volume of 2,179,891. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $7.53 billion, a P/E ratio of 11.45 and a beta of 0.92. The stock has a 50 day moving average price of $55.29 and a two-hundred day moving average price of $61.48. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data 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. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The firm had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. During the same period in the prior year, the business posted $1.29 EPS. Equities analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The company 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 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio is currently 53.69%.

Analyst Upgrades and Downgrades

CMA has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $63.00 to $55.00 in a report on Monday, April 7th. Stephens downgraded Comerica from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. The Goldman Sachs Group cut their price objective on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada reduced their target price on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $62.37.

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.