Comerica Incorporated (NYSE:CMA) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in Comerica Incorporated (NYSE:CMA) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,187 shares of the financial services provider’s stock after selling 1,103 shares during the quarter. Commonwealth Equity Services LLC owned 0.06% of Comerica worth $3,177,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Forest Hill Capital LLC grew its position in Comerica by 9.7% during the 4th quarter. Forest Hill Capital LLC now owns 113,089 shares of the financial services provider’s stock worth $7,560,000 after purchasing an additional 10,000 shares during the last quarter. SkyOak Wealth LLC grew its holdings in shares of Comerica by 74.4% during the first quarter. SkyOak Wealth LLC now owns 9,368 shares of the financial services provider’s stock valued at $407,000 after buying an additional 3,997 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Comerica by 38.6% in the 1st quarter. Russell Investments Group Ltd. now owns 330,554 shares of the financial services provider’s stock valued at $14,354,000 after acquiring an additional 92,040 shares during the period. Ellevest Inc. raised its stake in Comerica by 114.3% in the 1st quarter. Ellevest Inc. now owns 3,478 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 1,855 shares during the last quarter. Finally, HRT Financial LP lifted its position in Comerica by 39.8% during the 4th quarter. HRT Financial LP now owns 84,543 shares of the financial services provider’s stock worth $5,651,000 after acquiring an additional 24,075 shares during the period. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Comerica Price Performance

Comerica stock opened at $48.70 on Tuesday. The company has a fifty day simple moving average of $48.34 and a 200-day simple moving average of $46.94. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 5.08, a PEG ratio of 1.47 and a beta of 1.23. Comerica Incorporated has a 52-week low of $28.40 and a 52-week high of $86.42.

Comerica (NYSE:CMA) last released its quarterly earnings data on Friday, July 21st. The financial services provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.15. Comerica had a net margin of 27.01% and a return on equity of 25.54%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $904.80 million. During the same quarter in the prior year, the firm earned $1.92 EPS. On average, equities analysts anticipate that Comerica Incorporated will post 7.75 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.83%. Comerica’s payout ratio is 29.65%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CMA. Piper Sandler increased their price objective on Comerica from $46.00 to $52.00 in a report on Monday, July 24th. TheStreet downgraded shares of Comerica from a “b-” rating to a “c+” rating in a report on Monday, May 8th. Odeon Capital Group raised shares of Comerica from a “hold” rating to a “buy” rating and set a $47.24 target price for the company in a report on Monday, June 5th. 58.com reaffirmed a “maintains” rating on shares of Comerica in a report on Thursday, June 29th. Finally, Royal Bank of Canada lifted their price objective on Comerica from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Comerica currently has an average rating of “Hold” and a consensus target price of $62.49.

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, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities.