American Century Companies Inc. Sells 9,452 Shares of Comerica Incorporated $CMA

American Century Companies Inc. cut its holdings in Comerica Incorporated (NYSE:CMA) by 5.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 158,383 shares of the financial services provider’s stock after selling 9,452 shares during the quarter. American Century Companies Inc. owned 0.12% of Comerica worth $9,448,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CMA. Franklin Resources Inc. lifted its position in Comerica by 5.2% during the second quarter. Franklin Resources Inc. now owns 30,976 shares of the financial services provider’s stock valued at $1,848,000 after purchasing an additional 1,543 shares during the last quarter. MAI Capital Management raised its position in shares of Comerica by 21.7% during the 2nd quarter. MAI Capital Management now owns 1,146 shares of the financial services provider’s stock valued at $68,000 after buying an additional 204 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Comerica in the 2nd quarter valued at about $923,000. Prudential PLC bought a new position in shares of Comerica in the 2nd quarter valued at about $3,120,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Comerica in the second quarter worth about $601,000. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

CMA has been the subject of several recent analyst reports. Morgan Stanley raised shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective for the company in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $93.00 price target (up from $73.00) on shares of Comerica in a research note on Friday, October 10th. TD Cowen started coverage on shares of Comerica in a research report on Thursday, September 25th. They issued a “hold” rating and a $75.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Finally, Evercore ISI set a $88.00 target price on Comerica and gave the company an “in-line” rating in a research note on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.55.

Comerica Stock Up 1.2%

Shares of Comerica stock opened at $84.13 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market cap of $10.75 billion, a P/E ratio of 16.06 and a beta of 1.07. The firm’s 50 day moving average price is $77.27 and its 200-day moving average price is $68.59. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $84.25.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%.The business had revenue of $824.00 million during the quarter. On average, sell-side analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Monday, December 15th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, December 15th. Comerica’s dividend payout ratio is currently 54.20%.

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.