Comerica Incorporated (NYSE:CMA) Holdings Decreased by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP cut its holdings in Comerica Incorporated (NYSE:CMA) by 9.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,426 shares of the financial services provider’s stock after selling 3,618 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Comerica were worth $2,599,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in Comerica by 5.7% in the first quarter. BlackRock Inc. now owns 12,459,702 shares of the financial services provider’s stock worth $893,859,000 after acquiring an additional 673,248 shares in the last quarter. King Luther Capital Management Corp raised its position in Comerica by 1.0% in the first quarter. King Luther Capital Management Corp now owns 2,634,467 shares of the financial services provider’s stock worth $188,997,000 after acquiring an additional 27,101 shares in the last quarter. Geode Capital Management LLC raised its position in Comerica by 1.7% in the first quarter. Geode Capital Management LLC now owns 2,491,121 shares of the financial services provider’s stock worth $178,424,000 after acquiring an additional 42,146 shares in the last quarter. Alliancebernstein L.P. increased its stake in Comerica by 14.8% in the 1st quarter. Alliancebernstein L.P. now owns 2,365,537 shares of the financial services provider’s stock worth $169,704,000 after purchasing an additional 305,333 shares in the last quarter. Finally, Factorial Partners LLC increased its stake in Comerica by 6,812.7% in the 1st quarter. Factorial Partners LLC now owns 2,087,634 shares of the financial services provider’s stock worth $29,100,000 after purchasing an additional 2,057,434 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

A number of equities analysts recently weighed in on CMA shares. Citigroup began coverage on Comerica in a research note on Friday, July 16th. They issued a “buy” rating and a $67.50 price target on the stock. Compass Point lifted their target price on Comerica from $62.00 to $65.00 and gave the company a “sell” rating in a research note on Tuesday, May 18th. Keefe, Bruyette & Woods raised Comerica from a “market perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Tuesday, September 7th. Truist Securities lowered their target price on Comerica from $100.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, July 22nd. Finally, Odeon Capital Group cut Comerica from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus price target of $74.79.

CMA traded up $1.23 on Wednesday, hitting $72.74. The company had a trading volume of 1,883 shares, compared to its average volume of 1,425,307. The company’s fifty day moving average price is $70.90 and its 200 day moving average price is $72.21. Comerica Incorporated has a 1-year low of $35.76 and a 1-year high of $79.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 0.34 and a beta of 1.59.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.71. Comerica had a return on equity of 14.51% and a net margin of 37.02%. The company had revenue of $749.00 million during the quarter, compared to analyst estimates of $723.09 million. During the same period in the previous year, the company earned $0.80 earnings per share. On average, sell-side analysts forecast that Comerica Incorporated will post 7.93 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.74%. Comerica’s dividend payout ratio (DPR) is presently 83.18%.

About Comerica

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 involves in the middle market businesses, multinational corporations, and governmental entities by offering various products and services such as 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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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