Comerica Incorporated (NYSE:CMA) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its position in Comerica Incorporated (NYSE:CMA) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,146 shares of the financial services provider’s stock after selling 11,074 shares during the period. California Public Employees Retirement System’s holdings in Comerica were worth $13,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CMA. PL Capital Advisors LLC raised its holdings in Comerica by 6,085.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock valued at $109,981,000 after acquiring an additional 1,749,438 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Comerica in the fourth quarter valued at approximately $82,419,000. Norges Bank acquired a new stake in shares of Comerica in the fourth quarter valued at approximately $64,150,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Comerica by 29.7% during 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 buying an additional 492,381 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after buying an additional 490,468 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Trading Down 3.4 %

CMA opened at $51.48 on Friday. The business has a fifty day moving average price of $62.28 and a 200 day moving average price of $63.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 10.26 and a beta of 1.23.

Comerica (NYSE:CMA) last released its 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 quarter in the previous year, the business earned $1.46 EPS. Sell-side analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 annualized dividend and a dividend yield of 5.52%. Comerica’s dividend payout ratio (DPR) is currently 56.57%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CMA. Argus raised Comerica to a “hold” rating in a research note on Friday, January 31st. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. Morgan Stanley decreased their target price on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. UBS Group began coverage on shares of Comerica in a report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price target for the company. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $67.95.

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.