Columbia Asset Management Sells 400 Shares of Comerica Incorporated (NYSE:CMA)

Columbia Asset Management trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,921 shares of the financial services provider’s stock after selling 400 shares during the quarter. Columbia Asset Management’s holdings in Comerica were worth $552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its holdings in shares of Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock worth $474,000 after buying an additional 186 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 200 shares during the period. V Square Quantitative Management LLC boosted 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 acquiring an additional 221 shares in the last quarter. US Bancorp DE grew its holdings in Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 227 shares during the period. Finally, MCF Advisors LLC increased its stake in Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Barclays raised their price objective on Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. DA Davidson lowered their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Truist Financial raised shares of Comerica to a “hold” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.62.

Comerica Price Performance

Shares of NYSE:CMA opened at $58.21 on Wednesday. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company’s 50-day moving average is $62.77 and its 200 day moving average is $63.65. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $7.64 billion, a P/E ratio of 11.60 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 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company earned $1.46 EPS. On average, equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 4.88%. Comerica’s payout ratio is presently 56.57%.

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.