Stieven Capital Advisors L.P. Acquires 21,500 Shares of Comerica Incorporated (NYSE:CMA)

Stieven Capital Advisors L.P. raised its position in Comerica Incorporated (NYSE:CMA - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,047 shares of the financial services provider's stock after purchasing an additional 21,500 shares during the period. Comerica accounts for 1.8% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its 29th biggest position. Stieven Capital Advisors L.P. owned about 0.12% of Comerica worth $9,961,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of Comerica by 390.6% during the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock worth $45,628,000 after acquiring an additional 606,375 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Comerica by 31.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider's stock worth $144,312,000 after acquiring an additional 574,516 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 490,468 shares during the last quarter. Primecap Management Co. CA bought a new stake in shares of Comerica during the 3rd quarter worth $26,630,000. Finally, Holocene Advisors LP bought a new stake in shares of Comerica during the 3rd quarter worth $16,272,000. 80.74% of the stock is owned by institutional investors.

Comerica Trading Down 0.1 %

Shares of NYSE CMA traded down $0.06 during midday trading on Wednesday, hitting $67.80. 1,571,723 shares of the company traded hands, compared to its average volume of 2,120,065. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. 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 stock has a 50-day moving average price of $64.35 and a 200 day moving average price of $62.54. The firm has a market cap of $8.92 billion, a P/E ratio of 13.51 and a beta of 1.25.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted $1.46 EPS. As a group, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

CMA has been the subject of a number of research analyst reports. DA Davidson dropped their price objective on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. Truist Financial raised shares of Comerica to a "hold" rating in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of Comerica from $73.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Argus raised shares of Comerica to a "hold" rating in a research note on Friday, January 31st. Finally, 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 for the company. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $68.57.

Comerica 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.