Comerica Incorporated (NYSE:CMA) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC cut its position in Comerica Incorporated (NYSE:CMA) by 23.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 919 shares of the financial services provider’s stock after selling 288 shares during the period. EverSource Wealth Advisors LLC’s holdings in Comerica were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CMA. Atria Investments Inc acquired a new position in Comerica during the third quarter worth $219,000. Victory Capital Management Inc. boosted its stake in Comerica by 38.2% during the third quarter. Victory Capital Management Inc. now owns 43,328 shares of the financial services provider’s stock worth $2,596,000 after buying an additional 11,981 shares during the last quarter. KBC Group NV boosted its stake in Comerica by 17.3% during the third quarter. KBC Group NV now owns 3,955 shares of the financial services provider’s stock worth $237,000 after buying an additional 582 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Comerica by 4.2% during the third quarter. Pathstone Holdings LLC now owns 107,009 shares of the financial services provider’s stock worth $6,414,000 after buying an additional 4,282 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in Comerica during the third quarter worth $204,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMA has been the topic of several recent analyst reports. UBS Group initiated coverage on Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price target on the stock. Royal Bank of Canada cut their price objective on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. 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 report on Thursday, January 23rd. Finally, Piper Sandler boosted their price objective on Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.29.

Comerica Trading Up 1.3 %

CMA opened at $59.06 on Thursday. The company has a market cap of $7.76 billion, a P/E ratio of 11.77 and a beta of 1.23. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The business’s 50-day simple moving average is $63.56 and its 200-day simple moving average is $63.39.

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 analysts’ consensus estimates 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 period last year, the firm earned $1.46 earnings per share. As a group, equities research analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.71 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.81%. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

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.