State of Alaska Department of Revenue Has $927,000 Stock Holdings in Comerica Incorporated (NYSE:CMA)

State of Alaska Department of Revenue cut its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 80.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,000 shares of the financial services provider's stock after selling 60,722 shares during the quarter. State of Alaska Department of Revenue's holdings in Comerica were worth $927,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock valued at $51,309,000 after acquiring an additional 490,468 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Comerica by 158.2% during the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider's stock valued at $1,218,000 after acquiring an additional 12,454 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Comerica by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider's stock valued at $257,975,000 after acquiring an additional 226,285 shares during the period. Citigroup Inc. lifted its holdings in shares of Comerica by 390.6% during the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock valued at $45,628,000 after acquiring an additional 606,375 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of Comerica during the third quarter valued at $1,905,000. 80.74% of the stock is owned by institutional investors.

Comerica Trading Up 0.5 %

Shares of CMA stock traded up $0.37 on Monday, reaching $67.13. The company had a trading volume of 1,640,521 shares, compared to its average volume of 2,372,567. 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 stock has a market cap of $8.83 billion, a PE ratio of 13.37 and a beta of 1.25. The company has a 50-day moving average of $64.35 and a 200-day moving average of $62.42. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 period in the prior year, the firm earned $1.46 earnings per share. On average, equities analysts forecast that Comerica Incorporated will post 5.34 earnings per share for the current year.

Comerica declared that its Board of Directors has initiated a stock 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on CMA shares. Morgan Stanley cut their price target on Comerica from $76.00 to $71.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company upgraded shares of Comerica from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. Evercore ISI upped their price target on shares of Comerica from $64.00 to $69.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Royal Bank of Canada reduced their price target on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Comerica from $73.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Three research 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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.