Comerica Incorporated (NYSE:CMA) Stock Holdings Cut by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its position in Comerica Incorporated (NYSE:CMA) by 9.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,196,891 shares of the financial services provider’s stock after selling 226,435 shares during the quarter. Alliancebernstein L.P.’s holdings in Comerica were worth $135,878,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in Comerica by 134.0% in the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after acquiring an additional 490,468 shares in the last quarter. Independent Advisor Alliance acquired a new position in shares of Comerica in the 4th quarter worth approximately $206,000. Jupiter Asset Management Ltd. acquired a new position in shares of Comerica in the 4th quarter worth approximately $82,419,000. Jones Financial Companies Lllp raised its holdings in shares of Comerica by 220.9% in the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 7,408 shares in the last quarter. Finally, New England Research & Management Inc. bought a new stake in Comerica during the fourth quarter worth approximately $784,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Performance

Shares of CMA opened at $58.21 on Wednesday. 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 Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The company’s fifty day moving average is $62.77 and its 200-day moving average is $63.65. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 11.60 and a beta of 1.23.

Comerica (NYSE:CMA) 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 period in the prior year, the business earned $1.46 EPS. Equities analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.71 per share. The ex-dividend date was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 4.88%. Comerica’s payout ratio is currently 56.57%.

Analyst Ratings Changes

CMA has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Royal Bank of Canada dropped their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Piper Sandler upped their price target on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods reduced their target price on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.62.

About Comerica

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.