Fishman Jay A Ltd. MI Sells 31,851 Shares of Comerica Incorporated (NYSE:CMA)

Fishman Jay A Ltd. MI reduced its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 29.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,908 shares of the financial services provider's stock after selling 31,851 shares during the period. Fishman Jay A Ltd. MI owned approximately 0.06% of Comerica worth $4,483,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CMA. Empowered Funds LLC acquired a new position in shares of Comerica during the fourth quarter worth $355,000. Salzhauer Michael increased its holdings in shares of Comerica by 39.2% during the fourth quarter. Salzhauer Michael now owns 165,971 shares of the financial services provider's stock worth $10,265,000 after buying an additional 46,700 shares in the last quarter. Allworth Financial LP increased its holdings in Comerica by 290.7% in the fourth quarter. Allworth Financial LP now owns 2,930 shares of the financial services provider's stock valued at $184,000 after purchasing an additional 2,180 shares during the period. Atria Wealth Solutions Inc. increased its holdings in Comerica by 67.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 6,985 shares of the financial services provider's stock valued at $432,000 after purchasing an additional 2,809 shares during the period. Finally, Private Advisor Group LLC increased its holdings in Comerica by 55.3% in the fourth quarter. Private Advisor Group LLC now owns 8,366 shares of the financial services provider's stock valued at $517,000 after purchasing an additional 2,978 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Trading Up 1.5%

NYSE:CMA traded up $0.84 during trading hours on Tuesday, reaching $58.20. The company's stock had a trading volume of 1,444,278 shares, compared to its average volume of 2,022,121. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 10.72 and a beta of 0.92. The firm has a 50-day simple moving average of $55.93 and a 200-day simple moving average of $59.76. Comerica Incorporated has a 1 year low of $47.33 and a 1 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.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings data 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. Comerica had a net margin of 14.89% and a return on equity of 11.59%. The firm had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. During the same quarter in the previous year, the company earned $1.29 earnings per share. Research analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio is currently 53.69%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMA. The Goldman Sachs Group decreased their price objective on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Evercore ISI cut shares of Comerica from an "in-line" rating to an "underperform" rating and cut their price target for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Wells Fargo & Company cut 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 report on Tuesday, April 22nd. Truist Financial set a $61.00 price target on shares of Comerica and gave the company a "hold" rating in a research report on Friday, June 13th. Finally, Stephens cut shares of Comerica from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $61.95.

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.