MADDEN SECURITIES Corp Cuts Stake in Comerica Incorporated (NYSE:CMA)

MADDEN SECURITIES Corp cut its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,068 shares of the financial services provider's stock after selling 5,114 shares during the quarter. Comerica accounts for about 2.4% of MADDEN SECURITIES Corp's holdings, making the stock its 11th biggest holding. MADDEN SECURITIES Corp owned approximately 0.07% of Comerica worth $6,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Trust Co. of Vermont lifted its holdings in shares of Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after acquiring an additional 321 shares during the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Comerica in the 4th quarter worth approximately $31,000. V Square Quantitative Management LLC bought a new stake in shares of Comerica in the 3rd quarter worth approximately $36,000. MCF Advisors LLC lifted its holdings in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after acquiring an additional 228 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica in the 3rd quarter worth approximately $42,000. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Comerica in a report on Tuesday, December 17th. They issued a "sell" rating and a $64.00 price objective for the company. The Goldman Sachs Group lowered shares of Comerica from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Barclays upped their price target on shares of Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Finally, Truist Financial upgraded shares of Comerica to a "hold" rating in a report on Monday, January 6th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Comerica presently has a consensus rating of "Hold" and a consensus target price of $68.57.

Comerica Stock Up 0.5 %

Shares of NYSE:CMA traded up $0.37 during midday trading on Friday, reaching $67.13. The company's stock had a trading volume of 1,640,521 shares, compared to its average volume of 2,179,534. The firm has a 50 day moving average of $64.36 and a 200-day moving average of $62.21. The firm has a market capitalization of $8.83 billion, a P/E ratio of 13.37 and a beta of 1.25. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. 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 released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the company earned $1.46 earnings per share. On average, research analysts anticipate that Comerica Incorporated will post 5.34 earnings per share for the current year.

Comerica announced that its board has authorized a share buyback 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 repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.