Comerica Incorporated (NYSE:CMA) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Comerica Incorporated (NYSE:CMA) by 9.6% during the 4th quarter, HoldingsChannel reports. The firm owned 13,396,181 shares of the financial services provider’s stock after selling 1,421,367 shares during the period. Vanguard Group Inc. owned about 0.10% of Comerica worth $828,554,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of Montreal Can boosted its position in Comerica by 8.8% during the third quarter. Bank of Montreal Can now owns 274,304 shares of the financial services provider’s stock worth $16,288,000 after acquiring an additional 22,244 shares during the last quarter. FMR LLC lifted its stake in Comerica by 11.5% in the 3rd quarter. FMR LLC now owns 35,009 shares of the financial services provider’s stock worth $2,097,000 after purchasing an additional 3,599 shares in the last quarter. Townsquare Capital LLC boosted its holdings in shares of Comerica by 27.1% during the 3rd quarter. Townsquare Capital LLC now owns 5,555 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 1,183 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of Comerica in the third quarter valued at approximately $720,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Comerica by 9.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,325 shares of the financial services provider’s stock valued at $1,757,000 after purchasing an additional 2,586 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Trading Down 1.5 %

NYSE CMA opened at $58.73 on Friday. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The firm has a 50 day simple moving average of $63.07 and a 200-day simple moving average of $63.58. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 11.70 and a beta of 1.23. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the company posted $1.46 earnings per share. Equities research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s dividend payout ratio is currently 56.57%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Compass Point boosted their price objective on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods dropped their price objective on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Morgan Stanley reduced their target price on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler increased their price target on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.00.

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.