Gamco Investors INC. ET AL Cuts Stock Holdings in Comerica Incorporated (NYSE:CMA)

Gamco Investors INC. ET AL cut its stake in Comerica Incorporated (NYSE:CMA) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,050 shares of the financial services provider’s stock after selling 400 shares during the period. Gamco Investors INC. ET AL’s holdings in Comerica were worth $1,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMA. Wedmont Private Capital boosted its stake in shares of Comerica by 2.4% in the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after buying an additional 186 shares during the period. Blue Trust Inc. lifted its stake in Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 200 shares during the last quarter. Bessemer Group Inc. grew its holdings in Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 211 shares in the last quarter. V Square Quantitative Management LLC increased 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 valued at $51,000 after purchasing an additional 221 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Comerica by 2.0% in the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 227 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Stock Up 0.7 %

CMA opened at $52.89 on Friday. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The business has a 50 day moving average price of $58.88 and a two-hundred day moving average price of $62.86. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market cap of $6.94 billion, a PE ratio of 10.54 and a beta of 0.96.

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 the consensus estimate 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 in the previous year, the firm posted $1.46 EPS. As a group, research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.37%. Comerica’s dividend payout ratio (DPR) is 56.57%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMA. Royal Bank of Canada lowered their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird increased their price objective on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. The Goldman Sachs Group cut Comerica from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Morgan Stanley lowered shares of Comerica from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average target price of $68.16.

Comerica 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.