Cetera Investment Advisers Reduces Stake in Comerica Incorporated (NYSE:CMA)

Cetera Investment Advisers lowered its position in Comerica Incorporated (NYSE:CMA) by 8.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,222 shares of the financial services provider’s stock after selling 1,880 shares during the period. Cetera Investment Advisers’ holdings in Comerica were worth $1,194,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CMA. MorganRosel Wealth Management LLC bought a new position in Comerica during the 1st quarter valued at approximately $33,000. Quarry LP increased its holdings in shares of Comerica by 152.0% in the 4th quarter. Quarry LP now owns 867 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 523 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Comerica by 19.4% in the 1st quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 289 shares in the last quarter. Point72 Europe London LLP bought a new stake in shares of Comerica in the 4th quarter worth $130,000. Finally, MGO One Seven LLC bought a new stake in shares of Comerica in the 4th quarter worth $200,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of research reports. Jefferies Financial Group upgraded Comerica from an “underperform” rating to a “hold” rating and raised their price target for the stock from $50.00 to $70.00 in a research note on Wednesday, August 6th. Raymond James Financial reiterated a “market perform” rating on shares of Comerica in a research report on Tuesday, July 8th. Wells Fargo & Company lowered their target price 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. Piper Sandler lifted their target price on Comerica from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Finally, Robert W. Baird lowered their target price on Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $64.40.

Comerica Trading Down 1.5%

Shares of CMA stock opened at $65.86 on Tuesday. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $73.45. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The stock’s 50-day moving average price is $62.06 and its 200-day moving average price is $59.96. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 12.06 and a beta of 0.94.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.19. Comerica had a return on equity of 10.92% and a net margin of 14.92%. The company had revenue of $849.00 million for the quarter, compared to analysts’ expectations of $844.39 million. During the same period in the previous year, the firm posted $1.49 earnings per share. Equities research analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, September 15th. Comerica’s payout ratio is 54.41%.

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.