SG Americas Securities LLC Decreases Stock Position in Comerica Incorporated (NYSE:CMA)

SG Americas Securities LLC lessened its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 84.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,183 shares of the financial services provider's stock after selling 40,510 shares during the quarter. SG Americas Securities LLC's holdings in Comerica were worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMA. Quarry LP boosted its holdings in Comerica by 152.0% in the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after acquiring an additional 523 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Comerica by 64.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider's stock worth $84,000 after purchasing an additional 533 shares during the last quarter. UMB Bank n.a. raised its position in shares of Comerica by 19.4% in the 1st quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after purchasing an additional 289 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Comerica by 63.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the financial services provider's stock valued at $127,000 after purchasing an additional 802 shares in the last quarter. Finally, Point72 Europe London LLP acquired a new position in shares of Comerica in the 4th quarter valued at approximately $130,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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 report on Tuesday, April 22nd. Evercore ISI lowered Comerica from an "in-line" rating to an "underperform" rating and cut their target price for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Royal Bank Of Canada cut their target price on Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial cut their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. lowered Comerica from a "neutral" rating to an "underweight" rating and cut their target price for the company from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Six 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 stock has an average rating of "Hold" and a consensus price target of $61.95.

Comerica Price Performance

Shares of CMA opened at $58.20 on Wednesday. The company has a market cap of $7.65 billion, a P/E ratio of 11.00 and a beta of 0.92. The stock has a fifty day moving average price of $56.04 and a 200 day moving average price of $59.75. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.96 and a quick ratio of 0.96. Comerica Incorporated has a 12 month low of $47.33 and a 12 month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping 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 in the prior year, the business earned $1.29 EPS. On average, research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.71 per share. 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 4.88%. Comerica's payout ratio is currently 53.69%.

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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