Focus Partners Advisor Solutions LLC Cuts Position in Comerica Incorporated (NYSE:CMA)

Focus Partners Advisor Solutions LLC trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 46.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,377 shares of the financial services provider's stock after selling 10,582 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Comerica were worth $766,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CMA. Independent Advisor Alliance bought a new position in shares of Comerica during the 4th quarter valued at $206,000. Bank of Nova Scotia acquired a new stake in Comerica in the 4th quarter worth $1,320,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Comerica during the 4th quarter valued at about $82,419,000. Franklin Resources Inc. boosted its position in shares of Comerica by 251.1% during the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider's stock valued at $3,190,000 after acquiring an additional 36,883 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Comerica by 220.9% in the fourth quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider's stock valued at $666,000 after buying an additional 7,408 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMA. Robert W. Baird dropped their target price on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their target price on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Argus raised shares of Comerica to a "hold" rating in a research note on Friday, January 31st. UBS Group raised shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price target for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $63.00 to $55.00 in a research note on Monday, April 7th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $62.37.

Comerica Trading Up 2.1%

NYSE:CMA traded up $1.20 on Tuesday, reaching $57.39. 1,497,990 shares of the stock traded hands, compared to its average volume of 2,189,699. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 11.43 and a beta of 0.92. The company's 50 day moving average is $55.43 and its 200-day moving average is $61.64. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The company had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. During the same quarter last year, the firm posted $1.29 EPS. Equities research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.95%. The ex-dividend date is Friday, June 13th. Comerica's dividend payout ratio (DPR) is presently 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.