Pictet Asset Management Holding SA Decreases Stock Position in Comerica Incorporated (NYSE:CMA)

Pictet Asset Management Holding SA lessened its holdings in Comerica Incorporated (NYSE:CMA) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,397 shares of the financial services provider’s stock after selling 895 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Comerica were worth $1,385,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Trust Co. of Vermont grew its position in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares during the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica during the fourth quarter valued at $31,000. MCF Advisors LLC raised its stake in Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Comerica during the 3rd quarter worth about $42,000. Finally, V Square Quantitative Management LLC grew its stake in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

Shares of CMA opened at $51.48 on Friday. The firm has a 50-day simple moving average of $62.28 and a two-hundred day simple moving average of $63.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The stock has a market cap of $6.75 billion, a PE ratio of 10.26 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 period last year, the firm earned $1.46 EPS. As a group, analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.52%. The ex-dividend date was Friday, March 14th. Comerica’s dividend payout ratio is currently 56.57%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CMA shares. Morgan Stanley dropped their price objective on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Compass Point increased their price target on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods decreased their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Finally, The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.95.

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.