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

D.A. Davidson & CO. lessened its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 31.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Independent Advisor Alliance acquired a new position in Comerica in the fourth quarter worth approximately $206,000. Bank of Nova Scotia acquired a new position in Comerica in the fourth quarter worth approximately $1,320,000. Bessemer Group Inc. grew its position in Comerica by 3.8% in the first quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider's stock worth $666,000 after buying an additional 414 shares during the last quarter. 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 worth $6,293,000 after purchasing an additional 11,148 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in Comerica in the 4th quarter worth approximately $82,419,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. 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 note on Tuesday, April 22nd. Truist Financial set a $61.00 price objective on shares of Comerica and gave the stock a "hold" rating in a research note on Friday, June 13th. Royal Bank Of Canada decreased their price objective on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Comerica from $68.00 to $69.00 and gave the company an "outperform" rating in a research note on Friday. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $62.35.

Comerica Stock Performance

Shares of NYSE:CMA traded down $0.32 on Friday, hitting $63.69. 590,985 shares of the company were exchanged, compared to its average volume of 2,006,501. The company's 50 day moving average price is $58.12 and its two-hundred day moving average price is $59.55. Comerica Incorporated has a one year low of $48.12 and a one year high of $73.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 12.02 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. Comerica had a net margin of 14.89% and a return on equity of 11.59%. The company had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. During the same quarter in the previous year, the firm posted $1.29 EPS. Research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be given a $0.71 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 4.46%. Comerica's dividend payout ratio (DPR) is currently 53.69%.

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.