Salzhauer Michael Raises Holdings in Comerica Incorporated (NYSE:CMA)

Salzhauer Michael grew its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,971 shares of the financial services provider's stock after acquiring an additional 46,700 shares during the period. Comerica comprises approximately 3.6% of Salzhauer Michael's holdings, making the stock its 5th largest position. Salzhauer Michael owned about 0.13% of Comerica worth $10,265,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CMA. JPMorgan Chase & Co. boosted its holdings in Comerica by 134.0% in 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. Retirement Systems of Alabama bought a new position in Comerica in the 4th quarter worth $9,890,000. Vaughan Nelson Investment Management L.P. boosted its holdings in Comerica by 3.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider's stock worth $153,462,000 after buying an additional 72,391 shares during the period. SG Americas Securities LLC bought a new position in Comerica in the 4th quarter worth $2,950,000. Finally, Geode Capital Management LLC boosted its holdings in Comerica by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider's stock worth $126,555,000 after buying an additional 29,661 shares during the period. Institutional investors own 80.74% of the company's stock.

Comerica Trading Down 0.1 %

Comerica stock traded down $0.08 during midday trading on Thursday, reaching $66.79. The stock had a trading volume of 1,544,257 shares, compared to its average volume of 2,198,123. 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 52-week low of $45.32 and a 52-week high of $73.45. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 13.30 and a beta of 1.25. The company has a fifty day moving average of $64.41 and a 200 day moving average of $62.12.

Comerica (NYSE:CMA - Get Free Report) last posted 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, analysts anticipate that Comerica Incorporated will post 5.34 earnings per share for the current fiscal year.

Comerica declared that its Board of Directors has approved a share buyback program on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CMA shares. Wells Fargo & Company raised shares of Comerica from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $51.00 to $73.00 in a report on Friday, November 15th. Stephens boosted their price target on shares of Comerica from $64.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. UBS Group initiated coverage on shares of Comerica in a research note on Tuesday, December 17th. They issued a "sell" rating and a $64.00 price target on the stock. Morgan Stanley decreased their price target on shares of Comerica from $76.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Finally, Evercore ISI boosted their price target on shares of Comerica from $64.00 to $69.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $68.57.

About Comerica

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.