Sunbelt Securities Inc. Sells 400 Shares of Comerica Incorporated (NYSE:CMA)

Sunbelt Securities Inc. lowered its position in Comerica Incorporated (NYSE:CMA) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,100 shares of the financial services provider’s stock after selling 400 shares during the period. Sunbelt Securities Inc.’s holdings in Comerica were worth $252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Luken Investment Analytics LLC purchased a new stake in shares of Comerica in the fourth quarter worth approximately $31,000. V Square Quantitative Management LLC raised its stake in shares of Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 221 shares during the last quarter. Quarry LP raised its stake in shares of Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 523 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Comerica by 64.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 533 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its stake in shares of Comerica by 38.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 407 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

NYSE:CMA opened at $56.22 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The business has a fifty day simple moving average of $55.43 and a two-hundred day simple moving average of $61.64. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a market capitalization of $7.39 billion, a P/E ratio of 11.20 and a beta of 0.92.

Comerica (NYSE:CMA) last released its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. During the same period last year, the business posted $1.29 earnings per share. On average, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Friday, June 13th. Comerica’s dividend payout ratio is currently 53.69%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CMA. Raymond James lowered their price objective on Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Stephens downgraded Comerica from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. Evercore ISI downgraded Comerica from an “in-line” rating to an “underperform” rating and lowered their price objective for the stock from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Royal Bank of Canada lowered their price objective on Comerica from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group lowered their price objective on Comerica from $66.00 to $57.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.37.

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.