California Public Employees Retirement System Lowers Stock Position in Comerica Incorporated (NYSE:CMA)

California Public Employees Retirement System trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,146 shares of the financial services provider’s stock after selling 11,074 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Comerica worth $13,616,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Comerica by 2.0% in the 3rd quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock valued at $301,745,000 after buying an additional 96,084 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Comerica by 2.9% in 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 acquiring an additional 125,514 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Comerica by 3.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock valued at $153,462,000 after acquiring an additional 72,391 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Comerica by 29.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider’s stock worth $132,952,000 after purchasing an additional 492,381 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Comerica by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock worth $126,555,000 after purchasing an additional 29,661 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CMA has been the topic of several research analyst reports. DA Davidson dropped their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company cut their price objective on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Argus upgraded shares of Comerica to a “hold” rating in a research note on Friday, January 31st. The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $71.00 in a research note on Tuesday, January 7th. Finally, Raymond James lowered their price objective on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Comerica currently has an average rating of “Hold” and a consensus price target of $67.95.

Comerica Trading Down 3.4 %

Shares of Comerica stock opened at $51.48 on Friday. The firm has a 50-day simple moving average of $62.28 and a two-hundred day simple moving average of $63.54. 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 Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a market cap of $6.75 billion, a P/E ratio of 10.26 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $1.46 earnings per share. As a group, equities analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Friday, March 14th. Comerica’s payout ratio is presently 56.57%.

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.