Kovitz Investment Group Partners LLC Has $2.29 Million Stock Position in Comerica Incorporated (NYSE:CMA)

Kovitz Investment Group Partners LLC lowered its holdings in shares of Comerica Incorporated (NYSE:CMA) by 70.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,052 shares of the financial services provider’s stock after selling 88,540 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Comerica were worth $2,292,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Trust Co. of Vermont grew its stake in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 321 shares during the period. Luken Investment Analytics LLC acquired a new stake in Comerica in the fourth quarter valued at approximately $31,000. MCF Advisors LLC grew its stake in Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 228 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Comerica in the third quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC grew its stake in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 221 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of research reports. The Goldman Sachs Group reduced 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. Evercore ISI lowered Comerica from an “in-line” rating to an “underperform” rating and dropped their target price for the company from $65.00 to $50.00 in a report on Tuesday, April 22nd. UBS Group upgraded Comerica from a “sell” rating to a “neutral” rating and set a $59.00 target price on the stock in a report on Thursday, April 10th. Argus upgraded Comerica to a “hold” rating in a report on Friday, January 31st. Finally, Morgan Stanley lowered Comerica from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $63.00 to $55.00 in a report on Monday, April 7th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Comerica has an average rating of “Hold” and a consensus target price of $62.84.

Comerica Stock Performance

Shares of CMA opened at $53.89 on Tuesday. The firm has a market cap of $7.07 billion, a PE ratio of 10.73 and a beta of 0.96. The stock’s fifty day moving average price is $57.10 and its two-hundred day moving average price is $62.65. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45.

Comerica (NYSE:CMA) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period in the previous year, the company posted $1.29 earnings per share. On average, equities research analysts forecast that Comerica Incorporated will post 5.28 EPS 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 paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.27%. Comerica’s payout ratio is presently 53.69%.

Comerica Company 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.