New Mexico Educational Retirement Board purchased a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,100 shares of the financial services provider's stock, valued at approximately $1,676,000.
Several other large investors have also recently modified their holdings of the stock. Wedmont Private Capital increased its holdings in shares of Comerica by 2.4% in the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider's stock worth $474,000 after buying an additional 186 shares during the period. Blue Trust Inc. increased its holdings in shares of Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock worth $242,000 after buying an additional 200 shares during the period. V Square Quantitative Management LLC increased its holdings in shares of Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after buying an additional 221 shares during the period. MCF Advisors LLC increased its holdings in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after buying an additional 228 shares during the period. Finally, Centennial Wealth Advisory LLC increased its holdings in shares of Comerica by 5.2% in the third quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider's stock worth $304,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on CMA. Wells Fargo & Company raised Comerica from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $51.00 to $73.00 in a research note on Friday, November 15th. JPMorgan Chase & Co. cut their target price on Comerica from $73.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. DA Davidson cut their target price on Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Compass Point raised their target price on Comerica from $64.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Finally, Argus raised Comerica to a "hold" rating in a research note on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $68.57.
Check Out Our Latest Stock Analysis on Comerica
Comerica Stock Down 0.1 %
NYSE CMA traded down $0.06 during mid-day trading on Wednesday, reaching $67.80. The stock had a trading volume of 1,571,723 shares, compared to its average volume of 2,120,066. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The stock has a market cap of $8.92 billion, a PE ratio of 13.51 and a beta of 1.25. The company has a fifty day moving average price of $64.37 and a 200 day moving average price of $62.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.
Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data 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 business earned $1.46 earnings per share. On average, research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.
Comerica declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 5th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.
About Comerica
(
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.
See Also
Before you consider Comerica, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Comerica wasn't on the list.
While Comerica currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
