FJ Capital Management LLC Has $4.54 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

FJ Capital Management LLC trimmed its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 74.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,448 shares of the financial services provider's stock after selling 218,492 shares during the period. FJ Capital Management LLC owned about 0.06% of Comerica worth $4,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Co. of Vermont raised its holdings in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after acquiring an additional 321 shares during the period. Luken Investment Analytics LLC acquired a new stake in shares of Comerica during the fourth quarter worth $31,000. MCF Advisors LLC raised its holdings in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after acquiring an additional 228 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Comerica in the 3rd quarter valued at $42,000. Finally, V Square Quantitative Management LLC increased its stake in Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after buying an additional 221 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Truist Financial lowered their price target on shares of Comerica from $65.00 to $57.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird lowered their price target on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and decreased their price objective for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada decreased their price objective on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Comerica presently has a consensus rating of "Hold" and a consensus price target of $63.22.

Comerica Stock Performance

Shares of CMA stock traded up $2.39 during midday trading on Monday, hitting $58.37. 1,202,117 shares of the company were exchanged, compared to its average volume of 2,203,980. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm's 50 day moving average price is $55.49 and its two-hundred day moving average price is $62.16. The firm has a market capitalization of $7.67 billion, a P/E ratio of 11.63 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 for the quarter, topping the consensus estimate of $1.14 by $0.11. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the previous year, the company earned $1.29 EPS. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's payout ratio is presently 53.69%.

Comerica 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.