Handelsbanken Fonder AB Sells 4,100 Shares of Comerica Incorporated (NYSE:CMA)

Handelsbanken Fonder AB trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,400 shares of the financial services provider’s stock after selling 4,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Comerica were worth $2,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Trust Co. of Vermont increased its holdings in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares during the period. Luken Investment Analytics LLC acquired a new position in shares of Comerica in the fourth quarter worth about $31,000. MCF Advisors LLC raised its holdings in Comerica by 56.3% in 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 period. Wilmington Savings Fund Society FSB purchased a new position in shares of Comerica during the 3rd quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC lifted its holdings in Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Price Performance

Comerica stock opened at $64.28 on Wednesday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The firm has a 50 day moving average price of $64.33 and a 200 day moving average price of $63.03. The company has a market cap of $8.45 billion, a price-to-earnings ratio of 12.80 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last released its quarterly earnings data 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 quarter in the previous year, the company earned $1.46 EPS. Sell-side analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business 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 $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.42%. Comerica’s payout ratio is currently 56.57%.

Comerica declared that its board has approved a share buyback program on Tuesday, November 5th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMA. The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $71.00 in a research note on Tuesday, January 7th. Barclays raised their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective 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. Compass Point increased their price objective on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Argus raised Comerica to a “hold” rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.57.

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.