Cetera Investment Advisers Has $1.37 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

Cetera Investment Advisers decreased its holdings in shares of Comerica Incorporated (NYSE:CMA – Free Report) by 40.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,102 shares of the financial services provider’s stock after selling 15,054 shares during the quarter. Cetera Investment Advisers’ holdings in Comerica were worth $1,367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMA. PL Capital Advisors LLC lifted its holdings in shares of Comerica by 6,085.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock worth $109,981,000 after buying an additional 1,749,438 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Comerica in the fourth quarter valued at about $82,419,000. Norges Bank acquired a new position in Comerica in the fourth quarter valued at about $64,150,000. North Reef Capital Management LP grew its position in Comerica by 15.7% in the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock valued at $250,492,000 after acquiring an additional 550,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Comerica by 548.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider’s stock valued at $39,732,000 after acquiring an additional 543,400 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Price Performance

Shares of CMA opened at $55.91 on Thursday. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50 day moving average price is $55.56 and its two-hundred day moving average price is $61.92. The firm has a market cap of $7.35 billion, a PE ratio of 11.14 and a beta of 0.92.

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Comerica (NYSE:CMA – Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. During the same period in the previous year, the firm earned $1.29 earnings per share. On average, equities analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.08%. The ex-dividend date is Friday, June 13th. Comerica’s dividend payout ratio (DPR) is presently 53.69%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CMA. Stephens cut Comerica from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $66.00 to $64.00 in a report on Monday, March 31st. JPMorgan Chase & Co. cut Comerica from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $64.00 to $52.00 in a report on Tuesday, April 22nd. Robert W. Baird reduced their price target on Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Raymond James reduced their price target on Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Finally, Jefferies Financial Group initiated coverage on Comerica in a research note on Wednesday. They issued an “underperform” rating and a $47.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.37.

Check Out Our Latest Stock Report on Comerica

About Comerica

(Free Report)

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.