Burns Matteson Capital Management LLC Trims Position in Comerica Incorporated (NYSE:CMA)

Burns Matteson Capital Management LLC lessened its stake in shares of Comerica Incorporated (NYSE:CMA) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,800 shares of the financial services provider’s stock after selling 349 shares during the period. Burns Matteson Capital Management LLC’s holdings in Comerica were worth $771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Horizon Investments LLC raised its holdings in shares of Comerica by 9.9% during the 2nd quarter. Horizon Investments LLC now owns 2,458 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 221 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Comerica by 4.9% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,688 shares of the financial services provider’s stock valued at $333,000 after buying an additional 221 shares during the period. Parkside Financial Bank & Trust raised its holdings in Comerica by 25.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the financial services provider’s stock valued at $49,000 after buying an additional 231 shares during the period. Advisory Services Network LLC raised its holdings in Comerica by 3.5% in the 1st quarter. Advisory Services Network LLC now owns 7,266 shares of the financial services provider’s stock valued at $657,000 after buying an additional 246 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in Comerica by 12.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,262 shares of the financial services provider’s stock valued at $151,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Comerica Stock Performance

Shares of Comerica stock traded down $1.25 during trading hours on Friday, hitting $51.65. 2,137,137 shares of the company were exchanged, compared to its average volume of 2,588,409. Comerica Incorporated has a 1 year low of $28.40 and a 1 year high of $57.39. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average of $51.49 and a 200-day moving average of $47.94. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 8.02 and a beta of 1.25.

Comerica (NYSE:CMA) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.38 by $0.08. Comerica had a return on equity of 19.41% and a net margin of 16.71%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $826.07 million. During the same quarter in the prior year, the business earned $2.58 earnings per share. As a group, analysts expect that Comerica Incorporated will post 5.26 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Thursday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 44.10%.

Analyst Ratings Changes

CMA has been the topic of a number of recent research reports. TheStreet upgraded shares of Comerica from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. DA Davidson reiterated a “neutral” rating and set a $56.00 price target on shares of Comerica in a research note on Wednesday, March 6th. JPMorgan Chase & Co. lowered shares of Comerica from an “overweight” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Tuesday, December 12th. Raymond James lowered shares of Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, Keefe, Bruyette & Woods cut their price target on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.93.

Insider Transactions at Comerica

In other news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the transaction, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

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.