Seven Eight Capital LP Has $245,000 Stock Holdings in Comerica Incorporated (NYSE:CMA)

Seven Eight Capital LP lessened its stake in shares of Comerica Incorporated (NYSE:CMA) by 57.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,454 shares of the financial services provider’s stock after selling 6,118 shares during the quarter. Seven Eight Capital LP’s holdings in Comerica were worth $245,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC grew its position in Comerica by 99.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,644 shares of the financial services provider’s stock worth $860,000 after acquiring an additional 7,798 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Comerica by 8.7% during the first quarter. Kingsview Wealth Management LLC now owns 150,961 shares of the financial services provider’s stock worth $8,301,000 after purchasing an additional 12,040 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Comerica by 41.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 99,981 shares of the financial services provider’s stock valued at $5,498,000 after buying an additional 29,366 shares during the period. Entropy Technologies LP bought a new position in Comerica in the 1st quarter valued at approximately $1,764,000. Finally, Everence Capital Management Inc. bought a new position in Comerica in the 1st quarter valued at approximately $372,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Price Performance

Comerica stock opened at $51.28 on Thursday. The stock has a market cap of $6.80 billion, a P/E ratio of 10.19 and a beta of 1.25. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The company’s 50 day moving average price is $50.66 and its two-hundred day moving average price is $51.66. Comerica Incorporated has a 52 week low of $37.40 and a 52 week high of $58.50.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. During the same quarter in the previous year, the firm earned $2.01 earnings per share. On average, equities analysts predict that Comerica Incorporated will post 5.03 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.54%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CMA shares. Jefferies Financial Group decreased their price target on shares of Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, April 8th. The Goldman Sachs Group lowered their target price on Comerica from $69.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. JPMorgan Chase & Co. decreased their price target on Comerica from $62.00 to $57.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Raymond James raised Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Tuesday, July 2nd. Finally, Barclays decreased their target price on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Comerica presently has an average rating of “Hold” and a consensus price target of $54.95.

Comerica Company 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.