Comerica Incorporated (NYSE:CMA) Shares Sold by Factorial Partners LLC

Key Points

• Factorial Partners LLC sold 9,900 shares of Comerica, reducing its stake by 36.8%, leaving it with a total of 17,000 shares valued at approximately $1,004,000.
• Comerica recently reported earnings per share (EPS) of $1.42 for the last quarter, exceeding analyst expectations of $1.23, with revenue totaling $849 million.
• The company declared a quarterly dividend of $0.71, resulting in an annualized yield of 4.2%, and the dividend will be paid on October 1 to investors recorded by September 15.

Factorial Partners LLC reduced its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 36.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,000 shares of the financial services provider's stock after selling 9,900 shares during the period. Factorial Partners LLC's holdings in Comerica were worth $1,004,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in Comerica by 2.0% in the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock valued at $672,000 after acquiring an additional 211 shares in the last quarter. Meeder Asset Management Inc. grew its position in Comerica by 0.3% in the 1st quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider's stock valued at $4,985,000 after acquiring an additional 221 shares in the last quarter. Xponance Inc. grew its position in Comerica by 1.6% in the 1st quarter. Xponance Inc. now owns 15,346 shares of the financial services provider's stock valued at $906,000 after acquiring an additional 238 shares in the last quarter. Townsquare Capital LLC grew its position in Comerica by 4.6% in the 4th quarter. Townsquare Capital LLC now owns 5,811 shares of the financial services provider's stock valued at $359,000 after acquiring an additional 256 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Comerica by 5.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,654 shares of the financial services provider's stock valued at $275,000 after acquiring an additional 257 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Price Performance

Comerica stock traded up $0.79 during midday trading on Friday, reaching $66.80. 1,249,938 shares of the company were exchanged, compared to its average volume of 2,893,904. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 11.91 and a beta of 0.94. The firm's 50-day simple moving average is $61.87 and its 200-day simple moving average is $59.98. Comerica Incorporated has a 1 year low of $48.12 and a 1 year high of $73.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.19. Comerica had a return on equity of 10.92% and a net margin of 14.92%. The firm had revenue of $849.00 million during the quarter, compared to analysts' expectations of $844.39 million. During the same quarter last year, the business posted $1.49 EPS. On average, analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CMA shares. Citigroup lifted 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. Royal Bank Of Canada cut their target price on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group upgraded shares of Comerica from an "underperform" rating to a "hold" rating and upped their target price for the stock from $50.00 to $70.00 in a research note on Wednesday. UBS Group set a $64.00 target price on shares of Comerica and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Robert W. Baird cut their target price on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Comerica has a consensus rating of "Hold" and an average price target of $64.40.

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.