Bank of Nova Scotia Decreases Position in Comerica Incorporated (NYSE:CMA)

Bank of Nova Scotia lowered its stake in shares of Comerica Incorporated (NYSE:CMAGet Rating) by 79.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,957 shares of the financial services provider’s stock after selling 30,807 shares during the quarter. Bank of Nova Scotia’s holdings in Comerica were worth $583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CMA. Quent Capital LLC boosted its holdings in Comerica by 292.3% in the 1st quarter. Quent Capital LLC now owns 306 shares of the financial services provider’s stock worth $28,000 after buying an additional 228 shares during the period. Tcwp LLC bought a new position in Comerica in the 1st quarter worth approximately $30,000. Oliver Lagore Vanvalin Investment Group bought a new position in Comerica in the 1st quarter worth approximately $31,000. Oakworth Capital Inc. bought a new position in Comerica in the 2nd quarter worth approximately $34,000. Finally, Evoke Wealth LLC boosted its holdings in Comerica by 38.0% in the 2nd quarter. Evoke Wealth LLC now owns 494 shares of the financial services provider’s stock worth $36,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 82.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup cut their price target on shares of Comerica from $95.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 6th. The Goldman Sachs Group cut their price target on shares of Comerica from $94.00 to $84.00 and set a “neutral” rating for the company in a report on Monday, October 3rd. DA Davidson downgraded shares of Comerica from a “buy” rating to a “neutral” rating in a report on Thursday, October 20th. Barclays cut their price target on shares of Comerica from $105.00 to $87.00 and set an “underweight” rating for the company in a report on Thursday, October 20th. Finally, TheStreet raised shares of Comerica from a “c+” rating to a “b-” rating in a report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $91.00.

Comerica Price Performance

Shares of NYSE CMA opened at $69.90 on Monday. Comerica Incorporated has a 1 year low of $64.11 and a 1 year high of $102.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50-day moving average is $72.65 and its 200 day moving average is $76.48. The stock has a market capitalization of $9.15 billion, a P/E ratio of 9.26, a P/E/G ratio of 1.32 and a beta of 1.20.

Comerica (NYSE:CMAGet Rating) last announced its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $2.60 earnings per share (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 quarter in the previous year, the company earned $1.90 EPS. On average, sell-side analysts expect 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 given a dividend of $0.68 per share. 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 is currently 36.03%.

Comerica Profile

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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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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