EverSource Wealth Advisors LLC Cuts Holdings in Comerica Incorporated (NYSE:CMA)

EverSource Wealth Advisors LLC trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA) by 23.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 919 shares of the financial services provider’s stock after selling 288 shares during the period. EverSource Wealth Advisors LLC’s holdings in Comerica were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. State Street Corp raised its stake in shares of Comerica by 2.0% during the 3rd quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock worth $301,745,000 after buying an additional 96,084 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Comerica by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock worth $274,092,000 after buying an additional 125,514 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Comerica by 3.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock worth $153,462,000 after buying an additional 72,391 shares in the last quarter. Azora Capital LP raised its stake in shares of Comerica by 7.8% during the 3rd quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider’s stock worth $133,621,000 after buying an additional 161,181 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Comerica by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock worth $126,555,000 after buying an additional 29,661 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of analyst reports. Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $71.00 in a research note on Tuesday, January 7th. Royal Bank of Canada dropped their price objective on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Barclays raised their price objective on Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $72.00 price objective on shares of Comerica in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $68.29.

Comerica Price Performance

CMA stock opened at $59.06 on Thursday. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The stock’s fifty day simple moving average is $63.56 and its 200-day simple moving average is $63.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 11.77 and a beta of 1.23.

Comerica (NYSE:CMA) last posted 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 period last year, the firm posted $1.46 EPS. Equities research analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Friday, March 14th. Comerica’s payout ratio is currently 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.