Prudential Financial Inc. Decreases Stock Holdings in Comerica Incorporated (NYSE:CMA)

Prudential Financial Inc. trimmed its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 82.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,938 shares of the financial services provider's stock after selling 111,098 shares during the period. Prudential Financial Inc.'s holdings in Comerica were worth $1,419,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CMA. Trust Co. of Vermont grew its stake in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new position in Comerica during the 4th quarter worth approximately $31,000. MCF Advisors LLC raised its holdings in 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 bought a new position in Comerica during the 3rd quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC raised its holdings in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after purchasing an additional 221 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Down 4.5 %

Comerica stock traded down $2.48 on Thursday, hitting $52.62. 193,535 shares of the stock traded hands, compared to its average volume of 2,192,200. The business's fifty day simple moving average is $60.99 and its 200 day simple moving average is $63.24. 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 firm has a market cap of $6.90 billion, a P/E ratio of 10.48 and a beta of 0.96. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45.

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Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the business posted $1.46 earnings per share. As a group, sell-side analysts forecast 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 was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend 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. Raymond James lowered their price target on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada cut their price target on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Argus upgraded Comerica to a "hold" rating in a research report on Friday, January 31st. Morgan Stanley cut Comerica from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $63.00 to $55.00 in a research report on Monday. Finally, DA Davidson decreased their price target on Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $67.70.

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.