Kovitz Investment Group Partners LLC Cuts Stock Holdings in Comerica Incorporated (NYSE:CMA)

Kovitz Investment Group Partners LLC cut its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 70.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,052 shares of the financial services provider's stock after selling 88,540 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Comerica were worth $2,292,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CMA. Dimensional Fund Advisors LP boosted its holdings in Comerica by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider's stock valued at $311,464,000 after acquiring an additional 114,072 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Comerica by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider's stock worth $274,092,000 after purchasing an additional 125,514 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Comerica by 3.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider's stock valued at $153,462,000 after purchasing an additional 72,391 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Comerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock worth $137,039,000 after buying an additional 103,118 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Comerica by 29.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider's stock worth $132,952,000 after buying an additional 492,381 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Comerica Stock Performance

Shares of NYSE CMA traded up $0.75 during midday trading on Thursday, hitting $54.50. The company's stock had a trading volume of 1,056,436 shares, compared to its average volume of 2,206,396. The stock has a fifty day moving average price of $56.40 and a 200 day moving average price of $62.48. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 10.86 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The firm had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. During the same period in the prior year, the business posted $1.29 earnings per share. On average, research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given 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 dividend yield of 5.21%. Comerica's dividend payout ratio (DPR) is currently 53.69%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CMA shares. The Goldman Sachs Group dropped their price target on Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company cut their target price on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird dropped their price objective on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Argus upgraded Comerica to a "hold" rating in a research note on Friday, January 31st. Finally, Truist Financial dropped their price target on Comerica from $65.00 to $57.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $62.84.

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.