Mitsubishi UFJ Trust & Banking Corp Sells 14,210 Shares of Comerica Incorporated (NYSE:CMA)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Comerica Incorporated (NYSE:CMAGet Rating) by 35.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,993 shares of the financial services provider’s stock after selling 14,210 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Comerica were worth $1,907,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CMA. Lazard Asset Management LLC increased its holdings in Comerica by 810.8% during the 2nd quarter. Lazard Asset Management LLC now owns 5,966 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 5,311 shares in the last quarter. Leelyn Smith LLC increased its holdings in Comerica by 4.9% during the 2nd quarter. Leelyn Smith LLC now owns 33,333 shares of the financial services provider’s stock worth $2,446,000 after purchasing an additional 1,554 shares in the last quarter. Foster & Motley Inc. bought a new position in Comerica during the 2nd quarter worth about $313,000. Keebeck Alpha LP increased its holdings in Comerica by 7.1% during the 2nd quarter. Keebeck Alpha LP now owns 8,006 shares of the financial services provider’s stock worth $587,000 after purchasing an additional 534 shares in the last quarter. Finally, Walleye Capital LLC increased its holdings in Comerica by 343.4% during the 2nd quarter. Walleye Capital LLC now owns 134,923 shares of the financial services provider’s stock worth $9,901,000 after purchasing an additional 104,494 shares in the last quarter. Institutional investors own 82.56% of the company’s stock.

Comerica Trading Down 0.3 %

Shares of NYSE:CMA opened at $69.90 on Friday. The stock has a market cap of $9.15 billion, a PE ratio of 9.26, a P/E/G ratio of 1.33 and a beta of 1.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65. Comerica Incorporated has a 12-month low of $64.11 and a 12-month high of $102.09. The business has a 50 day moving average of $72.65 and a 200-day moving average of $76.55.

Comerica (NYSE:CMAGet Rating) last released its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. During the same period in the prior year, the firm earned $1.90 EPS. As a group, equities research analysts forecast that Comerica Incorporated will post 8.53 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 15th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, December 14th. Comerica’s dividend payout ratio (DPR) is currently 36.03%.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of research reports. Citigroup lowered their target price on Comerica from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 6th. TheStreet upgraded Comerica from a “c+” rating to a “b-” rating in a report on Friday, August 12th. Piper Sandler reduced their price objective on shares of Comerica to $85.00 in a research note on Thursday, October 20th. Compass Point dropped their target price on Comerica to $88.00 in a report on Thursday, October 20th. Finally, Barclays decreased their price target on Comerica from $105.00 to $87.00 and set an “underweight” rating for the company in a research note on Thursday, October 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Comerica currently has a consensus rating of “Hold” and a consensus target price of $91.00.

About Comerica

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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 meets the needs of small and middle market businesses, multinational corporations and governmental entities by offering 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.

See Also

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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