Comerica Incorporated (NYSE:CMA) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP cut its holdings in Comerica Incorporated (NYSE:CMA) by 69.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,044 shares of the financial services provider’s stock after selling 264,721 shares during the quarter. Artemis Investment Management LLP owned about 0.09% of Comerica worth $5,821,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Spire Wealth Management raised its stake in Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 235 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Comerica during the fourth quarter worth $36,000. Versant Capital Management Inc raised its position in Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after buying an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after buying an additional 300 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Comerica in the 4th quarter worth $51,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Trading Up 2.3 %

Shares of NYSE CMA traded up $1.19 during trading on Monday, hitting $53.53. 1,489,585 shares of the company traded hands, compared to its average volume of 2,249,588. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $7.10 billion, a P/E ratio of 10.41 and a beta of 1.25. The company has a 50-day moving average price of $50.86 and a 200-day moving average price of $51.51. Comerica Incorporated has a 1 year low of $37.40 and a 1 year high of $58.50.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.19 by $0.30. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the prior year, the firm posted $2.01 earnings per share. On average, equities analysts predict that Comerica Incorporated will post 5.05 EPS for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 annualized dividend and a yield of 5.31%. Comerica’s dividend payout ratio is currently 56.46%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CMA. Citigroup lowered Comerica from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $56.00 in a report on Monday, May 6th. Evercore ISI cut their price target on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Stephens restated an “overweight” rating and set a $64.00 target price on shares of Comerica in a research report on Tuesday, June 11th. UBS Group reduced their price target on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Morgan Stanley raised their price objective on Comerica from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.45.

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.