Sei Investments Co. Reduces Position in Comerica Incorporated (NYSE:CMA)

Sei Investments Co. trimmed its position in Comerica Incorporated (NYSE:CMA) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,070 shares of the financial services provider’s stock after selling 8,268 shares during the quarter. Sei Investments Co.’s holdings in Comerica were worth $7,179,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMA. Trust Co. of Vermont increased its position in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 321 shares during the period. Luken Investment Analytics LLC bought a new stake in shares of Comerica in the fourth quarter worth about $31,000. MCF Advisors LLC raised its position in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Comerica in the 3rd quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC grew its position in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after buying an additional 221 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Stock Up 0.6 %

Shares of Comerica stock opened at $59.08 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 11.77 and a beta of 1.23. The company’s 50 day moving average is $62.93 and its 200 day moving average is $63.65.

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

Comerica Announces Dividend

The business also recently declared 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 4.81%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s dividend payout ratio is presently 56.57%.

Analyst Ratings Changes

A number of analysts recently commented on CMA shares. Stephens lowered Comerica from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Monday. Robert W. Baird lifted their target price on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Wells Fargo & Company decreased their price target on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday. Keefe, Bruyette & Woods cut their price objective on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Truist Financial raised Comerica to a “hold” rating in a research report on Monday, January 6th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $67.62.

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.