Comerica Incorporated (NYSE:CMA) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 3.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 60,311 shares of the financial services provider’s stock after selling 2,327 shares during the quarter. Amalgamated Bank’s holdings in Comerica were worth $3,562,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP raised its position in Comerica by 152.0% during the fourth quarter. Quarry LP now owns 867 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 523 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Comerica by 64.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 533 shares during the period. UMB Bank n.a. increased its holdings in shares of Comerica by 19.4% during the 1st quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 289 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Comerica by 63.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 802 shares during the period. Finally, Point72 Europe London LLP purchased a new stake in Comerica during the fourth quarter worth $130,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CMA. Wells Fargo & Company dropped their price target on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their price target on Comerica from $52.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday. Royal Bank Of Canada reduced their price target on Comerica from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Citigroup increased their price target on Comerica from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Truist Financial set a $61.00 price objective on Comerica and gave the company a “hold” rating in a research report on Friday, June 13th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.30.

Comerica Stock Performance

NYSE:CMA opened at $63.78 on Friday. The company has a market cap of $8.38 billion, a P/E ratio of 12.06 and a beta of 0.92. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $73.45. The company’s 50-day moving average price is $57.18 and its 200-day moving average price is $59.49. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.86.

Comerica (NYSE:CMA) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Comerica had a net margin of 14.89% and a return on equity of 11.59%. The company had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. During the same period in the previous year, the firm earned $1.29 earnings per share. On average, sell-side analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a $0.71 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.45%. Comerica’s dividend payout ratio is currently 53.69%.

Comerica Company Profile

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.