Comerica Incorporated (NYSE:CMA) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lowered its stake in Comerica Incorporated (NYSE:CMAGet Rating) by 59.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,223 shares of the financial services provider’s stock after selling 1,801 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Comerica were worth $111,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rather & Kittrell Inc. purchased a new stake in shares of Comerica in the 4th quarter valued at approximately $42,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its stake in Comerica by 883.3% during the 4th quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 590 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 530 shares during the period. Chilton Capital Management LLC purchased a new stake in shares of Comerica in the fourth quarter valued at $55,000. CWM LLC acquired a new stake in shares of Comerica in the fourth quarter worth $67,000. Finally, Covestor Ltd purchased a new position in shares of Comerica during the fourth quarter valued at $78,000. Institutional investors and hedge funds own 80.14% of the company’s stock.

Wall Street Analysts Forecast Growth

CMA has been the subject of several research analyst reports. TheStreet downgraded Comerica from a “b” rating to a “c+” rating in a research note on Friday, May 13th. Robert W. Baird raised shares of Comerica from a “neutral” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Friday, May 20th. The Goldman Sachs Group lowered their price objective on shares of Comerica from $104.00 to $93.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st. Evercore ISI increased their target price on shares of Comerica to $86.00 in a research report on Friday, July 22nd. Finally, Wells Fargo & Company lowered their price target on shares of Comerica from $82.00 to $77.00 and set an “underweight” rating on the stock in a report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.71.

Comerica Price Performance

NYSE CMA opened at $76.64 on Wednesday. Comerica Incorporated has a 1 year low of $66.50 and a 1 year high of $102.09. The company has a fifty day simple moving average of $77.02 and a 200 day simple moving average of $85.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44. The company has a market cap of $10.03 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.25 and a beta of 1.30.

Comerica (NYSE:CMAGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.15. Comerica had a return on equity of 13.63% and a net margin of 30.42%. During the same period in the prior year, the company earned $2.32 EPS. On average, sell-side analysts predict that Comerica Incorporated will post 8.38 EPS for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.68 per share. The ex-dividend date is Wednesday, September 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.55%. Comerica’s dividend payout ratio (DPR) is presently 39.71%.

About Comerica

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Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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