TCW Group Inc. decreased its position in shares of Comerica Incorporated (NYSE:CMA) by 13.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,546 shares of the financial services provider’s stock after selling 5,405 shares during the quarter. TCW Group Inc.’s holdings in Comerica were worth $2,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CMA. Vanguard Group Inc increased its stake in shares of Comerica by 3.5% during the 3rd quarter. Vanguard Group Inc now owns 18,993,812 shares of the financial services provider’s stock worth $1,713,241,000 after purchasing an additional 634,716 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Comerica during the 4th quarter worth approximately $25,000. LS Investment Advisors LLC increased its stake in shares of Comerica by 7.4% during the 4th quarter. LS Investment Advisors LLC now owns 5,453 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 377 shares during the last quarter. BB&T Securities LLC increased its stake in shares of Comerica by 93.3% during the 4th quarter. BB&T Securities LLC now owns 54,799 shares of the financial services provider’s stock worth $3,764,000 after purchasing an additional 26,447 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd increased its stake in shares of Comerica by 278.2% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 40,303 shares of the financial services provider’s stock worth $2,768,000 after purchasing an additional 29,646 shares during the last quarter. 83.54% of the stock is currently owned by hedge funds and other institutional investors.

CMA traded down $1.35 on Wednesday, hitting $69.76. The company’s stock had a trading volume of 27,560 shares, compared to its average volume of 1,933,910. The company has a market cap of $10.83 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.22 and a beta of 1.47. Comerica Incorporated has a 12 month low of $63.69 and a 12 month high of $100.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.15. Comerica had a net margin of 34.75% and a return on equity of 16.95%. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $852.88 million. During the same period last year, the firm earned $1.59 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts forecast that Comerica Incorporated will post 8.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.84%. The ex-dividend date is Thursday, June 13th. Comerica’s payout ratio is 37.02%.

In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $73.49, for a total value of $235,168.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is owned by company insiders.

Several equities research analysts have recently issued reports on CMA shares. Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $89.00 to $84.00 in a research note on Thursday, April 4th. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Wedbush lowered shares of Comerica from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $86.00 to $85.00 in a research note on Wednesday, March 13th. Stephens lowered shares of Comerica from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Finally, Piper Jaffray Companies set a $91.00 price objective on shares of Comerica and gave the stock a “buy” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Comerica presently has an average rating of “Hold” and an average price target of $91.23.

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About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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