Farther Finance Advisors LLC Has $239,000 Position in Comerica Incorporated (NYSE:CMA)

Farther Finance Advisors LLC lowered its stake in shares of Comerica Incorporated (NYSE:CMA) by 6.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,869 shares of the financial services provider’s stock after selling 251 shares during the period. Farther Finance Advisors LLC’s holdings in Comerica were worth $239,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CMA. Trust Co. of Vermont raised its position in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new position in Comerica during the fourth quarter worth about $31,000. MCF Advisors LLC lifted its stake in Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Comerica during the third quarter worth about $42,000. Finally, V Square Quantitative Management LLC lifted its stake in Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

CMA has been the subject of a number of analyst reports. Stephens restated an “overweight” rating and set a $72.00 price target on shares of Comerica in a research note on Wednesday, March 5th. Morgan Stanley cut their price target on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Royal Bank of Canada dropped their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Robert W. Baird raised their price objective on shares of Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, UBS Group initiated coverage on shares of Comerica in a report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price objective for the company. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.29.

Comerica Price Performance

CMA opened at $58.37 on Wednesday. The company has a fifty day moving average price of $63.62 and a two-hundred day moving average price of $63.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The firm has a market capitalization of $7.67 billion, a PE ratio of 11.63 and a beta of 1.23.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the business posted $1.46 EPS. As a group, analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.87%. Comerica’s dividend payout ratio is 56.57%.

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.