First Trust Advisors LP Sells 97,441 Shares of Comerica Incorporated (NYSE:CMA)

First Trust Advisors LP lowered its holdings in shares of Comerica Incorporated (NYSE:CMA – Get Rating) by 24.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 300,151 shares of the financial services provider’s stock after selling 97,441 shares during the period. First Trust Advisors LP’s holdings in Comerica were worth $20,061,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CMA. Affinity Investment Advisors LLC increased its stake in Comerica by 1.1% in the 3rd quarter. Affinity Investment Advisors LLC now owns 12,969 shares of the financial services provider’s stock worth $922,000 after purchasing an additional 141 shares during the period. Quadrant Capital Group LLC lifted its holdings in Comerica by 8.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,999 shares of the financial services provider’s stock worth $142,000 after buying an additional 156 shares during the period. Huntington National Bank lifted its stake in Comerica by 5.7% in the third quarter. Huntington National Bank now owns 3,177 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 170 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Comerica by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 18,328 shares of the financial services provider’s stock worth $1,225,000 after purchasing an additional 170 shares during the period. Finally, IFP Advisors Inc raised its stake in Comerica by 10.4% in the third quarter. IFP Advisors Inc now owns 1,928 shares of the financial services provider’s stock worth $196,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CMA shares. Wolfe Research cut Comerica from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 3rd. Raymond James raised Comerica from an “outperform” rating to a “strong-buy” rating and dropped their price target for the stock from $84.00 to $57.00 in a research report on Thursday, April 6th. DA Davidson reduced their price objective on Comerica from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, April 21st. Citigroup dropped their target price on Comerica from $90.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 21st. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Comerica from $80.00 to $57.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Comerica has a consensus rating of “Hold” and an average price target of $69.23.

Comerica Stock Performance

CMA opened at $38.34 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 4.04, a PEG ratio of 1.10 and a beta of 1.14. The company has a fifty day moving average of $41.07 and a 200 day moving average of $59.51. Comerica Incorporated has a fifty-two week low of $28.40 and a fifty-two week high of $87.02.

Comerica (NYSE:CMA – Get Rating) last posted its earnings results on Thursday, April 20th. The financial services provider reported $2.39 EPS for the quarter, topping 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 company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $966.40 million. During the same period in the previous year, the business earned $1.37 earnings per share. As a group, sell-side analysts forecast that Comerica Incorporated will post 8.23 earnings per share for the current fiscal year.

Comerica Announces Dividend

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