COMERICA BANK recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Comerica Bank is a financial services company that was founded in Detroit and is currently headquartered out of Dallas. The company can trace its history back to the Detroit Savings Fund Institute founded in 1948 by Elon Farnsworth. The company would change its name to the Detroit Savings Bank and Detroit bank in 1871 and 1936, respectively. Comerica Bank can also trace its history back to the Manufacturers National Bank of Detroit, which was founded in 1933 and would join the bank in its merger in 1992. The bank would go through a series of mergers in 1956 with The Birmingham National Bank, Ferndale National Bank, and Detroit Wabeek Bank and Trust Company to create the Detroit Bank & Trust Company in 1956. DetroitBank Corporation would be created in 1973 as a holding company. The company would change its name to its current Comerica name in 1982, continuing to expand its presence through mergers with companies such as Grand Bancshares, Inc. and forming various regional based subsidiaries including Comerica Trust Company of Florida. Comerica acquired Imperial Bancorp in 2001 and would consolidate its bank charters in 2003 before moving its corporate headquarters to its current location in Dallas. The company currently operates through a variety of subsidiaries including its Michigan Market of Comerica Bank, California Market of Comerica Bank, Texas Market of Comerica Bank, Comerica Bank – Canada, Comerica Insurance Services, Inc., Comerica Leasing Corporation, and Comerica Securities, Inc., among various others. Comerica bank currently has a variety of operations across the United States as well as in Canada and Mexico with the holding company Comerica Inc. being the 22nd largest U.S. Financial Holding Company. The company has over 9,000 employees located in almost 500 locations, having almost $70 billion in total assets under management and bringing in over $2.5 billion in revenue.
As of the latest 13F report, the guru’s equity portfolio contained 2152 stocks valued at a total of $12.18Bil. The top holdings were AAPL(3.31%), MSFT(2.56%), and IVV(1.84%).
According to GuruFocus data, these were COMERICA BANK’s top five trades of the quarter.
Energy Transfer LP
COMERICA BANK reduced their investment in NYSE:ET by 3,844,900 shares. The trade had a 0.26% impact on the equity portfolio. During the quarter, the stock traded for an average price of $9.91.
On 08/02/2022, Energy Transfer LP traded for a price of $11.228 per share and a market cap of $34.94Bil. The stock has returned 23.77% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Energy Transfer LP has a price-earnings ratio of 10.68, a price-book ratio of 1.08, a EV-to-Ebitda ratio of 7.80 and a price-sales ratio of 0.45.
The price-to-GF Value ratio is 1.10, earning the stock a GF Value rank of 5.
iShares 1-3 Year Treasury Bond ETF
COMERICA BANK reduced their investment in NAS:SHY by 250,199 shares. The trade had a 0.16% impact on the equity portfolio. During the quarter, the stock traded for an average price of $84.45.
On 08/02/2022, iShares 1-3 Year Treasury Bond ETF traded for a price of $82.7129 per share and a market cap of $26.13Bil. The stock has returned -3.71% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
PowerShares QQQ Trust Ser 1
COMERICA BANK reduced their investment in NAS:QQQ by 59,259 shares. The trade had a 0.15% impact on the equity portfolio. During the quarter, the stock traded for an average price of $354.77.
On 08/02/2022, PowerShares QQQ Trust Ser 1 traded for a price of $314.17 per share and a market cap of $175.66Bil. The stock has returned -12.34% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, PowerShares QQQ Trust Ser 1 has a price-earnings ratio of 22.18 and a price-book ratio of 5.96.
iShares Select Dividend ETF
During the quarter, COMERICA BANK bought 149,379 shares of NAS:DVY for a total holding of 497,482. The trade had a 0.14% impact on the equity portfolio. During the quarter, the stock traded for an average price of $124.15.
On 08/02/2022, iShares Select Dividend ETF traded for a price of $121.9574 per share and a market cap of $21.87Bil. The stock has returned 8.75% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares Select Dividend ETF has a price-earnings ratio of 11.80 and a price-book ratio of 1.85.
iShares MSCI EAFE ETF
During the quarter, COMERICA BANK bought 225,991 shares of ARCA:EFA for a total holding of 1,525,040. The trade had a 0.12% impact on the equity portfolio. During the quarter, the stock traded for an average price of $74.79.
On 08/02/2022, iShares MSCI EAFE ETF traded for a price of $64.95 per share and a market cap of $47.19Bil. The stock has returned -15.16% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, iShares MSCI EAFE ETF has a price-earnings ratio of 12.45 and a price-book ratio of 1.54.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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