D.A. Davidson & CO. Sells 6,184 Shares of Comerica Incorporated (NYSE:CMA)

D.A. Davidson & CO. reduced its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 31.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,696 shares of the financial services provider's stock after selling 6,184 shares during the quarter. D.A. Davidson & CO.'s holdings in Comerica were worth $809,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in Comerica by 2.3% in the 4th 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 last quarter. North Reef Capital Management LP grew its holdings in 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 in the last quarter. Geode Capital Management LLC grew its holdings in Comerica by 4.9% during 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Comerica by 29.7% during 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 in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Comerica by 26.9% during 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 during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Trading Down 0.4%

NYSE:CMA opened at $62.85 on Thursday. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $73.45. The firm has a fifty day simple moving average of $57.93 and a 200-day simple moving average of $59.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $8.26 billion, a P/E ratio of 11.88 and a beta of 0.92.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. The company had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. Comerica had a net margin of 14.89% and a return on equity of 11.59%. During the same period in the previous year, the firm posted $1.29 earnings per share. On average, equities research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.52%. Comerica's dividend payout ratio (DPR) is currently 53.69%.

Wall Street Analyst Weigh In

CMA has been the topic of several research analyst reports. Wells Fargo & Company reduced their target price 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. Evercore ISI cut Comerica from an "in-line" rating to an "underperform" rating and reduced their target price for the company from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their target price on Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Citigroup boosted their target price on Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. boosted their target price on Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $62.30.

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.

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