SG Americas Securities LLC Sells 40,510 Shares of Comerica Incorporated (NYSE:CMA)

SG Americas Securities LLC trimmed its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 84.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,183 shares of the financial services provider's stock after selling 40,510 shares during the period. 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 also recently bought and sold shares of the stock. Quarry LP raised its stake in Comerica by 152.0% during 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 raised its position in shares of 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 valued at $84,000 after purchasing an additional 533 shares during the period. UMB Bank n.a. raised its position in shares of Comerica by 19.4% during 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 during the period. Smartleaf Asset Management LLC lifted its stake in shares of Comerica by 63.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the financial services provider's stock valued at $127,000 after buying an additional 802 shares in the last quarter. Finally, Point72 Europe London LLP bought a new position in Comerica in the 4th quarter worth $130,000. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CMA shares. Jefferies Financial Group initiated coverage on Comerica in a report on Wednesday, May 21st. They set an "underperform" rating and a $47.00 price target on the stock. JPMorgan Chase & Co. downgraded Comerica from a "neutral" rating to an "underweight" rating and decreased their target price for the company from $64.00 to $52.00 in a research note on Tuesday, April 22nd. Royal Bank Of Canada lowered their price target on Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their price objective on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group upgraded shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price objective on the stock in a research report on Thursday, April 10th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $61.95.

Comerica Price Performance

Shares of NYSE CMA traded up $0.42 during mid-day trading on Friday, hitting $59.50. 1,883,453 shares of the company's stock traded hands, compared to its average volume of 2,009,117. 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 1 year low of $48.12 and a 1 year high of $73.45. The company's 50-day moving average is $56.40 and its two-hundred day moving average is $59.58. The company has a market capitalization of $7.82 billion, a P/E ratio of 11.25 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last issued 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. The business had revenue of $829.00 million for 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 posted $1.29 earnings per share. On average, equities analysts anticipate 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 $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 4.77%. Comerica's dividend payout ratio is presently 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.