Yousif Capital Management LLC Purchases 3,918 Shares of Comerica Incorporated (NYSE:CMA)

Yousif Capital Management LLC grew its position in Comerica Incorporated (NYSE:CMA) by 52.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,355 shares of the financial services provider’s stock after buying an additional 3,918 shares during the period. Yousif Capital Management LLC’s holdings in Comerica were worth $702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CMA. Truist Financial Corp acquired a new position in shares of Comerica during the second quarter worth $318,000. Bleakley Financial Group LLC increased its position in Comerica by 8.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,478 shares of the financial services provider’s stock valued at $268,000 after buying an additional 351 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Comerica in the third quarter valued at about $36,000. Blue Trust Inc. raised its stake in Comerica by 34.2% in the third quarter. Blue Trust Inc. now owns 3,840 shares of the financial services provider’s stock valued at $230,000 after buying an additional 978 shares during the last quarter. Finally, OLD National Bancorp IN boosted its holdings in Comerica by 2.2% in the third quarter. OLD National Bancorp IN now owns 242,798 shares of the financial services provider’s stock worth $14,546,000 after acquiring an additional 5,148 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

NYSE:CMA opened at $67.13 on Friday. The firm has a market capitalization of $8.83 billion, a PE ratio of 13.37 and a beta of 1.25. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm’s fifty day simple moving average is $64.36 and its 200 day simple moving average is $62.27.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 last year, the firm earned $1.46 EPS. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.34 EPS for the current year.

Comerica declared that its board has approved a share repurchase program on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada dropped their target price on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Compass Point increased their price objective on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird boosted their target price on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Wells Fargo & Company upgraded Comerica from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. Finally, Barclays raised their price objective on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $68.57.

Comerica Company 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.