Alliancebernstein L.P. trimmed its position in Comerica Incorporated (NYSE:CMA) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,943,039 shares of the financial services provider’s stock after selling 109,834 shares during the period. Alliancebernstein L.P.’s holdings in Comerica were worth $175,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH boosted its holdings in Comerica by 3.8% in the third quarter. Keybank National Association OH now owns 324,813 shares of the financial services provider’s stock valued at $29,298,000 after purchasing an additional 11,747 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Comerica in the third quarter valued at $500,000. Norinchukin Bank The boosted its holdings in Comerica by 13.2% in the third quarter. Norinchukin Bank The now owns 12,126 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 1,413 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Comerica by 83.8% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,834 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 836 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in Comerica by 8.8% in the third quarter. Commonwealth Bank of Australia now owns 12,375 shares of the financial services provider’s stock valued at $1,113,000 after purchasing an additional 1,000 shares during the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

CMA stock opened at $80.66 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.03. Comerica Incorporated has a 52-week low of $78.11 and a 52-week high of $102.66. The stock has a market cap of $13.16 billion, a PE ratio of 12.37, a PEG ratio of 0.57 and a beta of 1.39.

Comerica (NYSE:CMA) last posted its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.05. Comerica had a net margin of 29.54% and a return on equity of 14.41%. The business had revenue of $833.00 million for the quarter, compared to analyst estimates of $852.72 million. During the same period in the prior year, the company posted $1.26 EPS. Sell-side analysts forecast that Comerica Incorporated will post 7.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Thursday, December 13th. Comerica’s payout ratio is currently 50.74%.

Several equities research analysts have commented on CMA shares. B. Riley set a $107.00 price target on shares of Comerica and gave the company a “buy” rating in a report on Monday, October 15th. Morgan Stanley lowered their price target on shares of Comerica from $111.00 to $107.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 18th. BMO Capital Markets lowered their price target on shares of Comerica from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 17th. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, Nomura lowered their price target on shares of Comerica from $114.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Comerica presently has a consensus rating of “Hold” and an average target price of $101.26.

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About Comerica

Comerica, Inc engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication.

Further Reading: Buyback

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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