Comerica Incorporated (NYSE:CMA) Short Interest Down 14.5% in May

Comerica Incorporated (NYSE:CMA - Get Free Report) was the target of a large drop in short interest in May. As of May 15th, there was short interest totalling 4,650,000 shares, a drop of 14.5% from the April 30th total of 5,440,000 shares. Based on an average trading volume of 1,950,000 shares, the short-interest ratio is currently 2.4 days. Approximately 3.6% of the company's stock are short sold.

Hedge Funds Weigh In On Comerica

A number of institutional investors have recently made changes to their positions in CMA. Blue Trust Inc. raised its holdings in shares of Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock worth $242,000 after acquiring an additional 200 shares during the last quarter. Boston Trust Walden Corp acquired a new position in Comerica in the fourth quarter valued at $204,000. Retirement Systems of Alabama acquired a new position in Comerica in the fourth quarter valued at $9,890,000. Yousif Capital Management LLC increased its stake in Comerica by 52.7% in the fourth quarter. Yousif Capital Management LLC now owns 11,355 shares of the financial services provider's stock valued at $702,000 after purchasing an additional 3,918 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Comerica by 18.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,025 shares of the financial services provider's stock valued at $5,931,000 after purchasing an additional 15,178 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CMA. Keefe, Bruyette & Woods cut their price target on Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Wells Fargo & Company cut their price target on Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered Comerica from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group began coverage on Comerica in a research report on Wednesday, May 21st. They set an "underperform" rating and a $47.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $62.37.

Comerica Price Performance

CMA stock traded down $0.03 during midday trading on Thursday, hitting $57.44. 807,119 shares of the stock were exchanged, compared to its average volume of 2,185,934. The stock's 50-day moving average price is $55.05 and its 200-day moving average price is $61.06. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 11.44 and a beta of 0.92. Comerica has a fifty-two week low of $45.32 and a fifty-two 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.

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, topping the consensus estimate of $1.14 by $0.11. The firm had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period in the previous year, the firm posted $1.29 earnings per share. Research analysts predict that Comerica will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.94%. Comerica's dividend payout ratio (DPR) is 53.69%.

Comerica Company 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.