Voya Investment Management LLC Reduces Stake in Comerica Incorporated (NYSE:CMA)

Voya Investment Management LLC decreased its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 36.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,102 shares of the financial services provider's stock after selling 9,386 shares during the quarter. Voya Investment Management LLC's holdings in Comerica were worth $996,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CMA. Trust Co. of Vermont grew its stake in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 321 shares during the period. Luken Investment Analytics LLC bought a new stake in Comerica in the 4th quarter worth about $31,000. MCF Advisors LLC increased its stake in Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after buying an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Comerica during the 3rd quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC boosted its stake in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CMA shares. Evercore ISI lowered Comerica from an "in-line" rating to an "underperform" rating and dropped their price target for the stock from $65.00 to $50.00 in a report on Tuesday, April 22nd. Argus raised shares of Comerica to a "hold" rating in a report on Friday, January 31st. JPMorgan Chase & Co. downgraded shares of Comerica from a "neutral" rating to an "underweight" rating and decreased their price objective for the stock from $64.00 to $52.00 in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods dropped their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James decreased their price target on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Comerica currently has a consensus rating of "Hold" and an average target price of $63.22.

Comerica Price Performance

Shares of NYSE:CMA traded down $0.06 during trading on Friday, reaching $55.98. The company had a trading volume of 652,161 shares, compared to its average volume of 2,202,513. The company has a fifty day moving average of $55.51 and a two-hundred day moving average of $62.19. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $7.36 billion, a P/E ratio of 11.15 and a beta of 0.92. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45.

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

Comerica Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.07%. Comerica's payout ratio is 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.