B.O.S.S. Retirement Advisors LLC Trims Holdings in Comerica Incorporated (NYSE:CMA)

B.O.S.S. Retirement Advisors LLC trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 58.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,737 shares of the financial services provider's stock after selling 28,003 shares during the quarter. B.O.S.S. Retirement Advisors LLC's holdings in Comerica were worth $1,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Family Firm Inc. purchased a new stake in Comerica in the second quarter worth $37,000. UMB Bank n.a. increased its position in Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider's stock worth $38,000 after buying an additional 208 shares during the last quarter. Versant Capital Management Inc increased its position in Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider's stock worth $43,000 after buying an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Comerica by 50.2% in the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider's stock worth $49,000 after buying an additional 300 shares during the last quarter. Finally, Summit Securities Group LLC increased its position in Comerica by 22.4% in the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider's stock worth $56,000 after buying an additional 202 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CMA. JPMorgan Chase & Co. raised their target price on Comerica from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Barclays decreased their target price on Comerica from $59.00 to $56.00 and set an "underweight" rating for the company in a research report on Monday, July 22nd. Morgan Stanley raised their price target on Comerica from $61.00 to $63.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. The Goldman Sachs Group raised their price target on Comerica from $55.00 to $63.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Finally, Bank of America lowered Comerica from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $55.00 to $52.00 in a report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $59.62.

Comerica Price Performance

CMA stock traded up $0.28 during mid-day trading on Thursday, hitting $62.60. 2,137,752 shares of the stock were exchanged, compared to its average volume of 2,150,351. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day moving average price of $57.70 and a 200 day moving average price of $53.69. Comerica Incorporated has a 12 month low of $37.40 and a 12 month high of $63.27. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 12.45 and a beta of 1.23.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. During the same quarter in the previous year, the company posted $2.01 earnings per share. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.12 EPS for the current year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Friday, September 13th. Comerica's dividend payout ratio (DPR) is currently 56.46%.

Insiders Place Their Bets

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

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.