UBS Group AG Decreases Position in Comerica Incorporated (NYSE:CMA)

UBS Group AG cut its stake in Comerica Incorporated (NYSE:CMA – Get Rating) by 13.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,699 shares of the financial services provider’s stock after selling 34,288 shares during the quarter. UBS Group AG owned approximately 0.16% of Comerica worth $14,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Comerica by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,248,885 shares of the financial services provider’s stock worth $1,155,296,000 after purchasing an additional 221,824 shares in the last quarter. State Street Corp lifted its stake in Comerica by 3.9% in the 3rd quarter. State Street Corp now owns 7,675,947 shares of the financial services provider’s stock worth $550,764,000 after purchasing an additional 284,884 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Comerica by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,492,892 shares of the financial services provider’s stock worth $225,433,000 after purchasing an additional 129,042 shares in the last quarter. Marshall Wace LLP lifted its stake in Comerica by 12.7% in the 3rd quarter. Marshall Wace LLP now owns 2,377,028 shares of the financial services provider’s stock worth $169,008,000 after purchasing an additional 267,593 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Comerica by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,992,962 shares of the financial services provider’s stock worth $180,255,000 after purchasing an additional 79,871 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMA has been the topic of a number of research reports. Wolfe Research lowered shares of Comerica from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 3rd. Morgan Stanley cut their price target on shares of Comerica from $85.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. Keefe, Bruyette & Woods cut their price target on shares of Comerica from $80.00 to $57.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. StockNews.com began coverage on shares of Comerica in a report on Thursday. They set a “sell” rating for the company. Finally, Raymond James upgraded shares of Comerica from an “outperform” rating to a “strong-buy” rating and cut their price target for the stock from $84.00 to $57.00 in a report on Thursday, April 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Comerica has an average rating of “Hold” and a consensus price target of $69.23.

Comerica Price Performance

Comerica stock opened at $38.34 on Friday. The stock has a market cap of $5.05 billion, a P/E ratio of 4.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.14. The company has a fifty day simple moving average of $41.07 and a 200-day simple moving average of $59.57. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $87.02. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA – Get Rating) last released its quarterly earnings data on Thursday, April 20th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.13. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $966.40 million. Comerica had a net margin of 30.16% and a return on equity of 24.34%. During the same period in the previous year, the company earned $1.37 EPS. Equities analysts expect that Comerica Incorporated will post 8.23 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Thursday, June 15th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 7.41%. Comerica’s dividend payout ratio (DPR) is currently 29.93%.

Comerica Profile

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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services.