Easterly Investment Partners LLC Trims Stock Holdings in Comerica Incorporated (NYSE:CMA)

Easterly Investment Partners LLC trimmed its position in Comerica Incorporated (NYSE:CMA) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,415 shares of the financial services provider’s stock after selling 1,000 shares during the period. Easterly Investment Partners LLC’s holdings in Comerica were worth $3,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMA. Independent Advisor Alliance bought a new stake in Comerica in the fourth quarter worth $206,000. Bank of Nova Scotia bought a new stake in Comerica in the fourth quarter worth $1,320,000. Bessemer Group Inc. boosted its holdings in Comerica by 3.8% in the first quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Comerica by 11.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,173 shares of the financial services provider’s stock worth $6,293,000 after acquiring an additional 11,148 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Comerica by 11.2% during the first quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider’s stock valued at $780,000 after purchasing an additional 1,326 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CMA shares. Royal Bank Of Canada reduced their price objective on Comerica from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group started coverage on Comerica in a research report on Wednesday, May 21st. They set an “underperform” rating and a $47.00 price objective for the company. Evercore ISI cut Comerica from an “in-line” rating to an “underperform” rating and reduced their price objective for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price target on Comerica from $52.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Finally, Piper Sandler upped their price target on Comerica from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 11th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.35.

Comerica Price Performance

CMA stock opened at $61.17 on Thursday. The business has a fifty day moving average of $58.68 and a two-hundred day moving average of $59.55. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 11.56 and a beta of 0.92. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $73.45.

Comerica (NYSE:CMA) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. The business had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 11.59% and a net margin of 14.89%. During the same period last year, the business posted $1.29 earnings per share. As a group, research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.64%. The ex-dividend date is Friday, June 13th. Comerica’s dividend payout ratio (DPR) is presently 53.69%.

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.