Citigroup Inc. Sells 2,945 Shares of Comerica Incorporated (NYSE:CMA)

Citigroup Inc. trimmed its position in shares of Comerica Incorporated (NYSE:CMA – Get Rating) by 4.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 70,785 shares of the financial services provider’s stock after selling 2,945 shares during the quarter. Citigroup Inc.’s holdings in Comerica were worth $4,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Comerica by 1.4% during the third quarter. Vanguard Group Inc. now owns 16,248,885 shares of the financial services provider’s stock valued at $1,155,296,000 after purchasing an additional 221,824 shares during the period. State Street Corp grew its holdings in Comerica by 3.9% during the third quarter. State Street Corp now owns 7,675,947 shares of the financial services provider’s stock valued at $550,764,000 after purchasing an additional 284,884 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Comerica by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,492,892 shares of the financial services provider’s stock worth $225,433,000 after acquiring an additional 129,042 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Comerica by 12.7% during the third quarter. Marshall Wace LLP now owns 2,377,028 shares of the financial services provider’s stock worth $169,008,000 after acquiring an additional 267,593 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Comerica by 4.2% during the first 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 in the last quarter. 81.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CMA shares. Odeon Capital Group downgraded Comerica from a “buy” rating to a “hold” rating in a research report on Monday, March 13th. The Goldman Sachs Group dropped their target price on Comerica from $83.00 to $61.00 and set a “neutral” rating on the stock in a research report on Thursday, March 30th. Wolfe Research downgraded Comerica from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 3rd. Wells Fargo & Company dropped their target price on Comerica from $72.00 to $53.00 and set an “underweight” rating on the stock in a research report on Monday, April 3rd. Finally, JPMorgan Chase & Co. upgraded Comerica from a “neutral” rating to an “overweight” rating and set a $46.00 target price on the stock in a research report on Friday, May 5th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.23.

Comerica Stock Down 1.2 %

Shares of NYSE:CMA opened at $38.34 on Friday. The stock’s 50-day moving average price is $41.07 and its 200-day moving average price is $59.57. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $87.02. The stock has a market capitalization of $5.05 billion, a P/E ratio of 4.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.14. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA – Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.13. Comerica had a return on equity of 24.34% and a net margin of 30.16%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $966.40 million. During the same period last year, the firm earned $1.37 earnings per share. On average, equities analysts anticipate that Comerica Incorporated will post 8.23 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, June 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.41%. Comerica’s dividend payout ratio (DPR) is currently 29.93%.

Comerica Company 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 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.