Silver Coast Investments LLC Sells 257 Shares of Comerica Incorporated (NYSE:CMA)

Silver Coast Investments LLC lowered its stake in Comerica Incorporated (NYSE:CMA) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,372 shares of the financial services provider’s stock after selling 257 shares during the period. Silver Coast Investments LLC’s holdings in Comerica were worth $332,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CMA. Wedmont Private Capital boosted its position in Comerica by 2.4% during the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 186 shares during the period. Blue Trust Inc. raised its holdings in Comerica by 5.2% in the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 200 shares during the period. V Square Quantitative Management LLC boosted 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 valued at $51,000 after acquiring an additional 221 shares during the period. US Bancorp DE grew its position in shares of Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 227 shares during the last quarter. Finally, MCF Advisors LLC increased its stake in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares during the period. Institutional investors own 80.74% of the company’s stock.

Comerica Trading Up 1.2 %

Shares of CMA stock opened at $64.30 on Monday. The company has a market capitalization of $8.45 billion, a P/E ratio of 12.81 and a beta of 1.25. Comerica Incorporated has a 12-month low of $45.32 and a 12-month 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 firm has a 50-day moving average price of $64.52 and a 200 day moving average price of $63.23.

Comerica (NYSE:CMA) last posted its earnings results 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 prior year, the firm posted $1.46 earnings per share. Research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica declared that its board has initiated a share buyback plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Friday, March 14th. Comerica’s dividend payout ratio is currently 56.57%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group started coverage on Comerica in a research note on Tuesday, December 17th. They set a “sell” rating and a $64.00 target price for the company. Argus raised Comerica to a “hold” rating in a research report on Friday, January 31st. DA Davidson dropped their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley reduced their price target on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Barclays boosted their price objective on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.57.

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.