Balentine LLC Sells 2,109 Shares of Comerica Incorporated (NYSE:CMA)

Balentine LLC decreased its holdings in shares of Comerica Incorporated (NYSE:CMAGet Rating) by 40.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,157 shares of the financial services provider’s stock after selling 2,109 shares during the period. Balentine LLC’s holdings in Comerica were worth $224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Comerica by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 15,871,102 shares of the financial services provider’s stock valued at $1,435,224,000 after acquiring an additional 366,188 shares in the last quarter. FMR LLC grew its stake in Comerica by 7.3% in the 2nd quarter. FMR LLC now owns 3,990,336 shares of the financial services provider’s stock worth $292,811,000 after buying an additional 270,869 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Comerica by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,492,892 shares of the financial services provider’s stock valued at $225,433,000 after buying an additional 129,042 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Comerica by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,992,962 shares of the financial services provider’s stock worth $180,255,000 after acquiring an additional 79,871 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in Comerica by 7.8% in the first quarter. Neuberger Berman Group LLC now owns 1,702,552 shares of the financial services provider’s stock worth $154,093,000 after acquiring an additional 122,515 shares in the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on Comerica from $77.00 to $72.00 in a research report on Wednesday, December 14th. Raymond James upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Monday, November 21st. Compass Point reduced their price target on shares of Comerica to $88.00 in a research report on Thursday, October 20th. Piper Sandler decreased their price target on shares of Comerica to $85.00 in a research note on Thursday, October 20th. Finally, Morgan Stanley cut their price objective on shares of Comerica from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, December 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.05.

Comerica Trading Up 2.3 %

NYSE:CMA opened at $67.60 on Monday. The company has a 50-day moving average price of $68.32 and a 200-day moving average price of $73.84. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 1.09 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Comerica Incorporated has a 12 month low of $62.83 and a 12 month high of $102.09.

Comerica (NYSE:CMAGet Rating) last announced its earnings results on Wednesday, October 19th. The financial services provider reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. The firm had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $966.20 million. During the same quarter in the previous year, the business posted $1.90 EPS. Equities analysts predict that Comerica Incorporated will post 8.47 EPS for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Wednesday, December 14th. Comerica’s payout ratio is currently 36.03%.

Comerica Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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