DGS Capital Management LLC Sells 496 Shares of Comerica Incorporated (NYSE:CMA)

DGS Capital Management LLC reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 9.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,745 shares of the financial services provider’s stock after selling 496 shares during the quarter. DGS Capital Management LLC’s holdings in Comerica were worth $265,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Chilton Capital Management LLC bought a new stake in shares of Comerica during the 1st quarter worth $28,000. Fortitude Family Office LLC bought a new stake in shares of Comerica during the 4th quarter worth $36,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Comerica during the 4th quarter worth $36,000. Almanack Investment Partners LLC. bought a new stake in shares of Comerica during the 3rd quarter worth $38,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in shares of Comerica during the 3rd quarter worth $47,000. 80.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Comerica Price Performance

Shares of NYSE CMA opened at $50.00 on Wednesday. Comerica Incorporated has a 1 year low of $28.40 and a 1 year high of $57.39. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50-day moving average is $51.39 and its 200 day moving average is $49.13. The stock has a market capitalization of $6.62 billion, a P/E ratio of 7.76 and a beta of 1.27.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same quarter in the previous year, the company earned $2.58 earnings per share. On average, sell-side analysts expect that Comerica Incorporated will post 5.09 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend was Thursday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 44.10%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMA. Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. The Goldman Sachs Group raised shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price target for the company in a research note on Thursday, January 4th. Bank Of America (Bofa) boosted their price target on shares of Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. DA Davidson reissued a “neutral” rating and issued a $56.00 price target on shares of Comerica in a research note on Wednesday, March 6th. Finally, Evercore ISI boosted their price target on shares of Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Comerica has a consensus rating of “Hold” and an average target price of $57.67.

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.