King Luther Capital Management Corp Trims Stake in Comerica Incorporated (NYSE:CMA)

King Luther Capital Management Corp decreased its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 571,903 shares of the financial services provider's stock after selling 25,078 shares during the quarter. King Luther Capital Management Corp owned 0.43% of Comerica worth $35,372,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Comerica by 2.0% during the 3rd quarter. State Street Corp now owns 4,977,670 shares of the financial services provider's stock worth $301,745,000 after acquiring an additional 96,084 shares during the period. Charles Schwab Investment Management Inc. raised its position in Comerica by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider's stock valued at $274,092,000 after purchasing an additional 125,514 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Comerica by 3.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider's stock worth $153,462,000 after purchasing an additional 72,391 shares during the last quarter. Azora Capital LP boosted its holdings in shares of Comerica by 7.8% in the 3rd quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider's stock valued at $133,621,000 after purchasing an additional 161,181 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Comerica by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider's stock valued at $126,555,000 after purchasing an additional 29,661 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several brokerages recently commented on CMA. Wells Fargo & Company raised shares of Comerica from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $51.00 to $73.00 in a research note on Friday, November 15th. Argus raised Comerica to a "hold" rating in a report on Friday, January 31st. Morgan Stanley dropped their price objective on shares of Comerica from $76.00 to $71.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their target price on shares of Comerica from $73.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, DA Davidson dropped their price target on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $68.67.

Comerica Price Performance

NYSE:CMA traded up $1.50 on Wednesday, reaching $58.47. 1,364,812 shares of the company's stock traded hands, compared to its average volume of 2,132,210. The stock has a 50-day simple moving average of $64.07 and a 200-day simple moving average of $63.38. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The firm has a market cap of $7.68 billion, a PE ratio of 11.65 and a beta of 1.23. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned $1.46 EPS. Equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.86%. Comerica's dividend payout ratio is currently 56.57%.

Comerica Company 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.