Columbia Asset Management Trims Stock Holdings in Comerica Incorporated (NYSE:CMA)

Columbia Asset Management lowered its stake in shares of Comerica Incorporated (NYSE:CMA) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,921 shares of the financial services provider’s stock after selling 400 shares during the period. Columbia Asset Management’s holdings in Comerica were worth $552,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. PL Capital Advisors LLC increased its position in shares of Comerica by 6,085.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock valued at $109,981,000 after buying an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Comerica during the fourth quarter valued at approximately $82,419,000. Norges Bank bought a new stake in Comerica during the 4th quarter worth approximately $64,150,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Comerica by 29.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider’s stock worth $132,952,000 after purchasing an additional 492,381 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after purchasing an additional 490,468 shares during the period. 80.74% of the stock is owned by institutional investors.

Comerica Stock Down 1.4 %

Shares of NYSE CMA opened at $58.21 on Wednesday. The firm’s fifty day moving average is $62.77 and its 200 day moving average is $63.65. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 11.60 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) 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 previous year, the firm posted $1.46 earnings per share. On average, equities research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

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

Analysts Set New Price Targets

CMA has been the topic of several research analyst reports. Barclays upped their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Robert W. Baird boosted their price objective on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $66.00 to $64.00 in a research note on Monday. Finally, Wells Fargo & Company dropped their target price on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.62.

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.