Envestnet Asset Management Inc. Sells 83,351 Shares of Comerica Incorporated (NYSE:CMA)

Envestnet Asset Management Inc. lessened its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 65.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 44,170 shares of the financial services provider's stock after selling 83,351 shares during the period. Envestnet Asset Management Inc.'s holdings in Comerica were worth $2,732,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont grew its holdings in shares of 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 during the period. Luken Investment Analytics LLC bought a new position in shares of Comerica in the fourth quarter valued at $31,000. MCF Advisors LLC increased its stake in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after purchasing an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Comerica during the 3rd quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC raised its holdings in 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 acquiring an additional 221 shares during the period. 80.74% of the stock is owned by institutional investors.

Comerica Stock Up 0.6 %

NYSE:CMA traded up $0.34 during trading hours on Tuesday, hitting $54.18. 990,901 shares of the company traded hands, compared to its average volume of 2,209,978. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. 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 $7.11 billion, a PE ratio of 10.79 and a beta of 0.96. The firm's 50-day simple moving average is $57.10 and its 200-day simple moving average is $62.65.

Comerica (NYSE:CMA - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $839.31 million. During the same period last year, the firm posted $1.29 EPS. Equities analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.24%. Comerica's dividend payout ratio is presently 53.69%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Robert W. Baird dropped their price objective on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. DA Davidson lowered their price target on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. Barclays raised their price objective on shares of Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a report on Monday, January 6th. Truist Financial reduced their price target on Comerica from $65.00 to $57.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Finally, Stephens cut shares of Comerica from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Five equities research 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's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.