Nisa Investment Advisors LLC Sells 5,852 Shares of Comerica Incorporated (NYSE:CMA)

Nisa Investment Advisors LLC lessened its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 9.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 55,468 shares of the financial services provider's stock after selling 5,852 shares during the period. Nisa Investment Advisors LLC's holdings in Comerica were worth $3,315,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CMA. MorganRosel Wealth Management LLC bought a new position in Comerica in the first quarter valued at about $33,000. Quarry LP boosted its holdings in Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 523 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Comerica by 64.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 533 shares during the last quarter. UMB Bank n.a. boosted its holdings in Comerica by 19.4% in the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after acquiring an additional 289 shares during the last quarter. Finally, Point72 Europe London LLP bought a new position in Comerica in the fourth quarter valued at about $130,000. Institutional investors own 80.74% of the company's stock.

Comerica Stock Down 0.9%

Comerica stock traded down $0.56 during midday trading on Friday, reaching $63.45. The stock had a trading volume of 1,343,510 shares, compared to its average volume of 1,998,105. The firm's fifty day simple moving average is $58.26 and its 200-day simple moving average is $59.53. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $73.45. The stock has a market capitalization of $8.34 billion, a P/E ratio of 11.99 and a beta of 0.92. 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 posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. The firm had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. Comerica had a return on equity of 11.59% and a net margin of 14.89%. During the same period last year, the company earned $1.29 earnings per share. As a group, 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. Shareholders of record on Friday, June 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.48%. Comerica's dividend payout ratio is 53.69%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CMA. Stephens cut Comerica from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $66.00 to $64.00 in a report on Monday, March 31st. Robert W. Baird cut their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods increased their target price on Comerica from $68.00 to $69.00 and gave the company an "outperform" rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Finally, UBS Group raised Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price on the stock in a research note on Thursday, April 10th. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $62.35.

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.