Natixis Has $7.55 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

Natixis reduced its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 21.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,120 shares of the financial services provider's stock after selling 33,901 shares during the quarter. Natixis owned 0.09% of Comerica worth $7,553,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CMA. JPMorgan Chase & Co. grew its stake in Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock worth $51,309,000 after buying an additional 490,468 shares during the last quarter. Independent Advisor Alliance acquired a new stake in Comerica during the 4th quarter valued at $206,000. Jupiter Asset Management Ltd. bought a new position in Comerica in the 4th quarter valued at $82,419,000. Bank of Nova Scotia acquired a new position in Comerica in the fourth quarter worth $1,320,000. Finally, Franklin Resources Inc. grew its holdings in shares of Comerica by 251.1% during the fourth quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider's stock worth $3,190,000 after purchasing an additional 36,883 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Up 2.0 %

Shares of CMA stock traded up $1.06 during trading hours on Thursday, hitting $53.37. 1,211,338 shares of the company were exchanged, compared to its average volume of 2,215,766. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average of $57.68 and a two-hundred day moving average of $62.68. The company has a market capitalization of $7.00 billion, a PE ratio of 10.63 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. During the same period last year, the company earned $1.29 earnings per share. Analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's payout ratio is 56.57%.

Analyst Ratings Changes

Several brokerages recently issued reports on CMA. Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and reduced their price target for the stock from $65.00 to $50.00 in a research report on Tuesday. Stephens lowered shares of Comerica from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a report on Tuesday. Morgan Stanley downgraded Comerica from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $63.00 to $55.00 in a report on Monday, April 7th. Finally, Argus upgraded Comerica to a "hold" rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Comerica currently has a consensus rating of "Hold" and a consensus target price of $62.84.

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.