Natixis Advisors LLC Lowers Stock Holdings in Comerica Incorporated (NYSE:CMA)

Key Points

• Natixis Advisors LLC reduced its holdings in Comerica Incorporated by 1.6%, owning 414,368 shares worth $24.47 million after selling 6,605 shares in the first quarter.
• Comerica's quarterly earnings exceeded expectations, reporting $1.42 EPS against an estimated $1.23, with revenue of $849 million, surpassing forecasts.
• Comerica has announced a quarterly dividend of $0.71 to be paid on October 1st, representing an annualized yield of 4.3%.

Natixis Advisors LLC reduced its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 414,368 shares of the financial services provider's stock after selling 6,605 shares during the quarter. Natixis Advisors LLC owned approximately 0.32% of Comerica worth $24,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its holdings in shares of Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock worth $672,000 after acquiring an additional 211 shares during the period. Meeder Asset Management Inc. raised its stake in Comerica by 0.3% during the first quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider's stock worth $4,985,000 after purchasing an additional 221 shares during the period. Xponance Inc. boosted its holdings in shares of 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 purchasing an additional 238 shares during the last quarter. Townsquare Capital LLC boosted its holdings in shares of 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 purchasing an additional 256 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in shares of Comerica by 5.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,654 shares of the financial services provider's stock valued at $275,000 after buying an additional 257 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on Comerica from $69.00 to $73.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. raised their price target on shares of Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Stephens reaffirmed an "equal weight" rating on shares of Comerica in a research report on Monday, July 21st. Truist Financial increased their price objective on shares of Comerica from $61.00 to $68.00 and gave the stock a "hold" rating in a research report on Thursday, July 24th. Finally, UBS Group set a $64.00 target price on shares of Comerica and gave the company a "neutral" rating in a research note on Monday, July 21st. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Comerica has a consensus rating of "Hold" and a consensus target price of $63.25.

Comerica Price Performance

CMA opened at $66.59 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. The company's 50-day moving average price is $60.89 and its 200 day moving average price is $59.94. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $73.45. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 12.76 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.23 by $0.19. The company had revenue of $849.00 million during the quarter, compared to analyst estimates of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%. During the same period in the prior year, the company earned $1.49 earnings per share. As a group, sell-side analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently announced 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 is Monday, September 15th. Comerica's dividend payout ratio (DPR) is presently 54.41%.

About Comerica

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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