Comerica Incorporated (NYSE:CMA) Shares Acquired by Savant Capital LLC

Savant Capital LLC lifted its position in shares of Comerica Incorporated (NYSE:CMA) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,037 shares of the financial services provider’s stock after purchasing an additional 277 shares during the quarter. Savant Capital LLC’s holdings in Comerica were worth $806,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMA. Truist Financial Corp acquired a new stake in shares of Comerica during the 2nd quarter worth approximately $318,000. Bleakley Financial Group LLC grew its stake in Comerica by 8.5% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,478 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 351 shares during the period. V Square Quantitative Management LLC acquired a new stake in Comerica in the 3rd quarter valued at $36,000. Blue Trust Inc. grew its stake in Comerica by 34.2% in the 3rd quarter. Blue Trust Inc. now owns 3,840 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 978 shares during the period. Finally, OLD National Bancorp IN grew its stake in Comerica by 2.2% in the 3rd quarter. OLD National Bancorp IN now owns 242,798 shares of the financial services provider’s stock valued at $14,546,000 after acquiring an additional 5,148 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CMA shares. Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Morgan Stanley dropped their price target on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Barclays lifted their price target on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Compass Point lifted their price target on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Argus upgraded Comerica to a “hold” rating in a report on Friday, January 31st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.57.

Comerica Stock Up 0.5 %

Shares of CMA opened at $67.13 on Friday. The firm has a market cap of $8.83 billion, a P/E ratio of 13.37 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’s 50-day moving average price is $64.36 and its 200 day moving average price is $62.27. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business earned $1.46 earnings per share. On average, sell-side analysts forecast that Comerica Incorporated will post 5.34 earnings per share for the current year.

Comerica announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.