Comerica Incorporated (NYSE:CMA) Stock Holdings Decreased by Columbia Asset Management

Columbia Asset Management lowered its stake in Comerica Incorporated (NYSE:CMA) by 22.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,921 shares of the financial services provider’s stock after selling 2,000 shares during the period. Columbia Asset Management’s holdings in Comerica were worth $409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC increased its position in shares of Comerica by 36.7% in the 4th 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 last quarter. Quarry LP grew its position in shares of Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider’s stock valued at $54,000 after buying an additional 523 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Comerica by 64.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider’s stock valued at $84,000 after buying an additional 533 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of Comerica by 38.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider’s stock valued at $90,000 after buying an additional 407 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Comerica by 63.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the financial services provider’s stock valued at $127,000 after buying an additional 802 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group lowered their price objective on shares of Comerica from $66.00 to $57.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Raymond James lowered their price objective on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Finally, Morgan Stanley downgraded shares of Comerica from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $63.00 to $55.00 in a research report on Monday, April 7th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.37.

Comerica Trading Down 0.7%

Shares of NYSE:CMA opened at $57.58 on Thursday. The company has a 50 day moving average of $55.09 and a 200-day moving average of $61.14. The firm has a market cap of $7.57 billion, a P/E ratio of 11.47 and a beta of 0.92. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. 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 $1.29 EPS. As a group, analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Friday, June 13th. Comerica’s payout ratio is 53.69%.

Comerica 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.