Victory Capital Management Inc. Sells 17,150 Shares of Comerica Incorporated (NYSE:CMA)

Victory Capital Management Inc. lessened its stake in Comerica Incorporated (NYSE:CMA) by 39.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,178 shares of the financial services provider’s stock after selling 17,150 shares during the quarter. Victory Capital Management Inc.’s holdings in Comerica were worth $1,619,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Trust Co. of Vermont lifted its holdings in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares during the period. Luken Investment Analytics LLC bought a new stake in Comerica during the fourth quarter worth $31,000. MCF Advisors LLC lifted its holdings 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 acquiring an additional 228 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Comerica during the third quarter worth $42,000. Finally, V Square Quantitative Management LLC lifted its holdings 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 acquiring an additional 221 shares during the period. Institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

NYSE:CMA opened at $58.37 on Wednesday. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 11.63 and a beta of 1.23. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The stock has a fifty day moving average of $63.62 and a 200 day moving average 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 (NYSE:CMA) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the prior year, the business posted $1.46 EPS. On average, research analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

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

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped their price target on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley dropped their price target on Comerica from $71.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Piper Sandler raised their target price on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. Finally, Stephens reissued an “overweight” rating and issued a $72.00 target price on shares of Comerica in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $68.29.

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.