Vanguard Group Inc. Sells 1,421,367 Shares of Comerica Incorporated (NYSE:CMA)

Vanguard Group Inc. lowered its holdings in Comerica Incorporated (NYSE:CMA) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,396,181 shares of the financial services provider’s stock after selling 1,421,367 shares during the quarter. Vanguard Group Inc. owned approximately 10.19% of Comerica worth $828,554,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CMA. LPL Financial LLC raised its stake in Comerica by 16.8% in the fourth quarter. LPL Financial LLC now owns 46,620 shares of the financial services provider’s stock worth $2,883,000 after buying an additional 6,699 shares in the last quarter. Fox Run Management L.L.C. increased its holdings in shares of Comerica by 7.9% in the 4th quarter. Fox Run Management L.L.C. now owns 15,756 shares of the financial services provider’s stock valued at $975,000 after acquiring an additional 1,151 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Comerica in the 4th quarter worth $1,679,000. American Century Companies Inc. lifted its stake in shares of Comerica by 1.4% during the 4th quarter. American Century Companies Inc. now owns 268,391 shares of the financial services provider’s stock worth $16,600,000 after purchasing an additional 3,830 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Comerica during the fourth quarter valued at about $613,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Trading Down 1.5 %

Comerica stock opened at $58.73 on Friday. The firm has a market cap of $7.71 billion, a PE ratio of 11.70 and a beta of 1.23. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The stock’s 50 day simple moving average is $63.07 and its two-hundred day simple moving average is $63.58. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the previous year, the company earned $1.46 EPS. Analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s payout ratio is 56.57%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CMA shares. Keefe, Bruyette & Woods decreased their price target on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Royal Bank of Canada decreased their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Truist Financial raised shares of Comerica to a “hold” rating in a report on Monday, January 6th. Argus raised Comerica to a “hold” rating in a research report on Friday, January 31st. Finally, Compass Point boosted their target price on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus price target of $68.00.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company 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, payment solutions, card services, 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.