Farther Finance Advisors LLC Cuts Stake in Comerica Incorporated (NYSE:CMA)

Farther Finance Advisors LLC cut its stake in Comerica Incorporated (NYSE:CMA) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,869 shares of the financial services provider’s stock after selling 251 shares during the quarter. Farther Finance Advisors LLC’s holdings in Comerica were worth $239,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CMA. Atria Investments Inc purchased a new position in Comerica in the third quarter valued at about $219,000. Victory Capital Management Inc. raised its position in Comerica by 38.2% in the third quarter. Victory Capital Management Inc. now owns 43,328 shares of the financial services provider’s stock valued at $2,596,000 after purchasing an additional 11,981 shares during the period. Oppenheimer & Co. Inc. raised its position in Comerica by 158.2% in the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider’s stock valued at $1,218,000 after purchasing an additional 12,454 shares during the period. KBC Group NV increased its position in shares of Comerica by 17.3% during the third quarter. KBC Group NV now owns 3,955 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 582 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Comerica by 26.8% during the third quarter. Natixis Advisors LLC now owns 413,690 shares of the financial services provider’s stock worth $24,784,000 after acquiring an additional 87,310 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMA has been the topic of a number of analyst reports. Argus raised Comerica to a “hold” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada dropped their target price on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Barclays lifted their target price on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group lowered Comerica from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $68.29.

Comerica Stock Up 0.8 %

Comerica stock opened at $58.37 on Wednesday. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 11.63 and a beta of 1.23. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The firm has a fifty day moving average price of $63.62 and a two-hundred day moving average price of $63.42.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates 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 business posted $1.46 EPS. As a group, analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date is Friday, March 14th. Comerica’s dividend payout ratio is currently 56.57%.

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.