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

Kovitz Investment Group Partners LLC reduced its position in Comerica Incorporated (NYSE:CMA) by 70.5% in the 4th quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Comerica by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider’s stock valued at $311,464,000 after purchasing an additional 114,072 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Comerica by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock valued at $274,092,000 after acquiring an additional 125,514 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Comerica by 3.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock valued at $153,462,000 after acquiring an additional 72,391 shares during the period. Geode Capital Management LLC raised its holdings in Comerica by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider’s stock valued at $137,039,000 after acquiring an additional 103,118 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Comerica by 29.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider’s stock valued at $132,952,000 after acquiring an additional 492,381 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on CMA shares. Barclays increased their price target on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Wells Fargo & Company lowered their price target on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Argus raised shares of Comerica to a “hold” rating in a report on Friday, January 31st. Robert W. Baird lowered their price target on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Finally, DA Davidson lowered their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus price target of $62.84.

Comerica Stock Performance

Shares of Comerica stock opened at $53.89 on Tuesday. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. 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 firm has a market capitalization of $7.07 billion, a P/E ratio of 10.73 and a beta of 0.96. The company’s 50 day moving average price is $57.10 and its two-hundred day moving average price is $62.65.

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

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.27%. Comerica’s dividend payout ratio is currently 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.