Coldstream Capital Management Inc. Sells 827 Shares of Comerica Incorporated $CMA

Coldstream Capital Management Inc. cut its holdings in Comerica Incorporated (NYSE:CMA) by 16.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,054 shares of the financial services provider’s stock after selling 827 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Comerica were worth $242,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its stake in shares of Comerica by 5.8% during the first quarter. Avantax Advisory Services Inc. now owns 4,654 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 257 shares in the last quarter. LPL Financial LLC lifted its holdings in Comerica by 6.5% during the first quarter. LPL Financial LLC now owns 49,654 shares of the financial services provider’s stock worth $2,933,000 after buying an additional 3,034 shares during the period. Jefferies Financial Group Inc. boosted its position in Comerica by 480.5% during the 1st quarter. Jefferies Financial Group Inc. now owns 75,465 shares of the financial services provider’s stock valued at $4,457,000 after acquiring an additional 62,465 shares in the last quarter. NewEdge Wealth LLC increased its holdings in shares of Comerica by 22.8% in the 1st quarter. NewEdge Wealth LLC now owns 570,735 shares of the financial services provider’s stock valued at $33,708,000 after acquiring an additional 105,886 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in shares of Comerica in the 1st quarter worth $506,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CMA. Cowen assumed coverage on Comerica in a research report on Wednesday, September 24th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $93.00 price target (up from $73.00) on shares of Comerica in a research report on Friday, October 10th. Cantor Fitzgerald assumed coverage on shares of Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price target on the stock. Weiss Ratings lowered shares of Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Finally, Royal Bank Of Canada increased their target price on shares of Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Three analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $74.55.

Comerica Stock Performance

CMA opened at $80.38 on Friday. The company has a market cap of $10.27 billion, a P/E ratio of 15.34 and a beta of 1.04. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $76.18 and its 200-day moving average price is $67.99. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $83.22.

Comerica (NYSE:CMA) last released its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The company had revenue of $824.00 million for the quarter. As a group, equities analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, December 15th. Comerica’s dividend payout ratio is presently 54.20%.

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.