International Assets Investment Management LLC Has $213,000 Stock Holdings in Comerica Incorporated (NYSE:CMA)

International Assets Investment Management LLC cut its position in shares of Comerica Incorporated (NYSE:CMA) by 38.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,940 shares of the financial services provider’s stock after selling 2,445 shares during the period. International Assets Investment Management LLC’s holdings in Comerica were worth $213,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wedmont Private Capital boosted its holdings in shares of Comerica by 11.5% during the 1st quarter. Wedmont Private Capital now owns 7,084 shares of the financial services provider’s stock worth $386,000 after buying an additional 730 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Comerica by 7.6% during the 1st quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock worth $178,000 after buying an additional 230 shares during the period. CWM LLC boosted its holdings in shares of Comerica by 4.0% during the 1st quarter. CWM LLC now owns 17,044 shares of the financial services provider’s stock worth $937,000 after buying an additional 653 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Comerica during the 4th quarter worth about $1,651,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Comerica by 1.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 47,903 shares of the financial services provider’s stock valued at $2,673,000 after purchasing an additional 501 shares during the period. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a report on Wednesday, June 12th. UBS Group cut their price objective on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $58.00 price objective on shares of Comerica in a report on Tuesday, June 11th. Evercore ISI cut their price objective on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 price target on shares of Comerica in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.13.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Comerica Trading Down 1.0 %

Shares of NYSE CMA opened at $47.82 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. Comerica Incorporated has a 52-week low of $37.40 and a 52-week high of $57.39. The firm has a 50 day moving average price of $50.74 and a two-hundred day moving average price of $52.00. The stock has a market cap of $6.34 billion, a P/E ratio of 9.51 and a beta of 1.25.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. During the same period in the prior year, the company posted $2.39 EPS. As a group, equities analysts forecast that Comerica Incorporated will post 5.08 EPS for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

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.