Bank of Montreal Can Sells 198,015 Shares of Comerica Incorporated $CMA

Bank of Montreal Can cut its position in shares of Comerica Incorporated (NYSE:CMA) by 80.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,503 shares of the financial services provider’s stock after selling 198,015 shares during the quarter. Bank of Montreal Can’s holdings in Comerica were worth $2,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMA. Primecap Management Co. CA boosted its stake in shares of Comerica by 228.8% in the 1st quarter. Primecap Management Co. CA now owns 1,670,110 shares of the financial services provider’s stock worth $98,637,000 after buying an additional 1,162,110 shares during the last quarter. Azora Capital LP lifted its holdings in Comerica by 53.7% during the first quarter. Azora Capital LP now owns 1,899,198 shares of the financial services provider’s stock worth $112,167,000 after acquiring an additional 663,513 shares during the period. Kodai Capital Management LP purchased a new position in Comerica in the first quarter worth $32,864,000. Dimensional Fund Advisors LP grew its stake in Comerica by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock valued at $325,308,000 after purchasing an additional 472,409 shares during the period. Finally, Invesco Ltd. increased its position in shares of Comerica by 48.7% during the 1st quarter. Invesco Ltd. now owns 1,183,213 shares of the financial services provider’s stock valued at $69,881,000 after purchasing an additional 387,527 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

Shares of CMA stock opened at $79.47 on Thursday. The firm’s 50 day moving average is $74.10 and its 200 day moving average is $66.10. The stock has a market capitalization of $10.15 billion, a P/E ratio of 15.17 and a beta of 1.04. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $83.22. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Comerica (NYSE:CMA) last released its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. The business had revenue of $824.00 million during the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, December 15th. Comerica’s payout ratio is presently 54.20%.

Wall Street Analyst Weigh In

CMA has been the topic of a number of research analyst reports. Stephens reissued an “equal weight” rating on shares of Comerica in a report on Monday, July 21st. Weiss Ratings cut shares of Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Cowen initiated coverage on shares of Comerica in a research note on Wednesday, September 24th. They set a “hold” rating for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $93.00 price target (up previously from $73.00) on shares of Comerica in a report on Friday, October 10th. Finally, Jefferies Financial Group increased their price objective on Comerica from $75.00 to $85.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Comerica presently has an average rating of “Hold” and an average target price of $74.55.

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.