Comerica Incorporated (NYSE:CMA) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 9.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,196,891 shares of the financial services provider's stock after selling 226,435 shares during the quarter. Alliancebernstein L.P. owned 1.67% of Comerica worth $135,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont lifted its stake in Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica during the fourth quarter worth $31,000. MCF Advisors LLC raised its position in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after buying an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Comerica in the third quarter worth about $42,000. Finally, V Square Quantitative Management LLC grew its position in shares of Comerica by 36.7% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Comerica Stock Performance

NYSE CMA traded down $1.79 on Friday, hitting $51.48. 3,419,027 shares of the company's stock were exchanged, compared to its average volume of 2,176,884. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 10.26 and a beta of 0.96. The firm's 50-day moving average price is $62.28 and its two-hundred day moving average price is $63.54. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

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Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 business posted $1.46 EPS. On average, research analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.52%. The ex-dividend date was Friday, March 14th. Comerica's dividend payout ratio (DPR) is 56.57%.

Analyst Ratings Changes

CMA has been the subject of several analyst reports. The Goldman Sachs Group cut shares of Comerica from a "buy" rating to a "neutral" rating and dropped their price target for the company from $85.00 to $71.00 in a research note on Tuesday, January 7th. Robert W. Baird boosted their price target on shares of Comerica from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Argus raised shares of Comerica to a "hold" rating in a research report on Friday, January 31st. Morgan Stanley cut their target price on Comerica from $71.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Raymond James dropped their price objective on Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a research note on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $67.95.

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.