Candriam Luxembourg S.C.A. reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 32.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,409 shares of the financial services provider’s stock after selling 129,718 shares during the period. Candriam Luxembourg S.C.A. owned about 0.15% of Comerica worth $18,203,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CMA. Tower Research Capital LLC TRC raised its position in shares of Comerica by 96.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,129 shares in the last quarter. Parallel Advisors LLC purchased a new position in Comerica during the fourth quarter worth $112,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Comerica by 6,744.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 156,593 shares of the financial services provider’s stock worth $157,000 after buying an additional 154,305 shares during the period. SRB Corp increased its position in Comerica by 9.2% in the third quarter. SRB Corp now owns 3,412 shares of the financial services provider’s stock worth $161,000 after buying an additional 287 shares during the period. Finally, Conning Inc. purchased a new position in Comerica during the third quarter worth $208,000. Institutional investors and hedge funds own 81.74% of the company’s stock.

Institutional Ownership by Quarter for Comerica (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) traded down 0.72% on Friday, reaching $68.71. The company’s stock had a trading volume of 3,358,666 shares. Comerica Incorporated has a 12 month low of $36.82 and a 12 month high of $75.00. The firm has a market cap of $12.08 billion, a price-to-earnings ratio of 25.64 and a beta of 1.43. The firm has a 50 day moving average of $69.24 and a 200 day moving average of $64.47.

Comerica (NYSE:CMA) last announced its earnings results on Tuesday, April 18th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The business had revenue of $741 million for the quarter, compared to analyst estimates of $735.06 million. Comerica had a return on equity of 6.92% and a net margin of 16.00%. During the same period in the prior year, the company earned $0.34 EPS. Analysts anticipate that Comerica Incorporated will post $4.26 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Stockholders of record on Wednesday, March 15th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, March 13th. Comerica’s payout ratio is currently 34.33%.

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A number of equities analysts have weighed in on CMA shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $78.00 price target on shares of Comerica in a research report on Tuesday, April 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $81.00 price target on shares of Comerica in a research report on Tuesday, April 4th. Keefe, Bruyette & Woods set a $71.00 price target on Comerica and gave the stock a “buy” rating in a research report on Saturday, March 25th. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Tuesday, March 21st. Finally, Sandler O’Neill downgraded Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $58.47.

In other news, EVP Muneera S. Carr sold 1,368 shares of the company’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $69.13, for a total value of $94,569.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul R. Obermeyer sold 15,235 shares of the company’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $67.79, for a total value of $1,032,780.65. The disclosure for this sale can be found here. Insiders sold a total of 104,403 shares of company stock valued at $7,075,034 over the last quarter. Company insiders own 1.60% of the company’s stock.

Comerica Company Profile

Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services.

5 Day Chart for NYSE:CMA

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