Entropy Technologies LP increased its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 303.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,995 shares of the financial services provider's stock after buying an additional 29,325 shares during the quarter. Entropy Technologies LP's holdings in Comerica were worth $2,412,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Comerica by 134.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock worth $51,309,000 after buying an additional 490,468 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Comerica by 158.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider's stock valued at $1,218,000 after purchasing an additional 12,454 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Comerica by 5.5% during the 3rd 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 purchasing an additional 226,285 shares in the last quarter. Citigroup Inc. increased its holdings in Comerica by 390.6% during the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock valued at $45,628,000 after purchasing an additional 606,375 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Comerica during the 3rd quarter valued at $1,905,000. Institutional investors own 80.74% of the company's stock.
Comerica Trading Down 0.1 %
CMA stock traded down $0.08 during midday trading on Thursday, hitting $66.79. 1,544,257 shares of the company's stock were exchanged, compared to its average volume of 2,198,123. The stock's fifty day moving average price is $64.41 and its 200-day moving average price is $62.12. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $8.78 billion, a PE ratio of 13.30 and a beta of 1.25. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45.
Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period in the prior year, the business earned $1.46 EPS. Research analysts predict that Comerica Incorporated will post 5.34 earnings per share for the current fiscal year.
Comerica declared that its board has authorized a stock buyback program on Tuesday, November 5th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of research firms recently weighed in on CMA. Wells Fargo & Company raised Comerica from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $51.00 to $73.00 in a report on Friday, November 15th. Robert W. Baird raised their price target on Comerica from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday. Keefe, Bruyette & Woods dropped their price target on Comerica from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Evercore ISI lifted their target price on Comerica from $64.00 to $69.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. Finally, Compass Point lifted their target price on Comerica from $64.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $68.57.
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Comerica Profile
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Free Report)
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.
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