9,932 Shares in Comerica Incorporated (NYSE:CMA) Acquired by Sylvest Advisors LLC

Sylvest Advisors LLC purchased a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,932 shares of the financial services provider's stock, valued at approximately $614,000.

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

Comerica Trading Up 0.4 %

Shares of NYSE:CMA traded up $0.30 during midday trading on Wednesday, reaching $68.12. 1,354,881 shares of the company's stock were exchanged, compared to its average volume of 2,161,917. The firm's 50 day simple moving average is $64.98 and its two-hundred day simple moving average is $61.51. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 13.53 and a beta of 1.25.

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 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 period last year, the company earned $1.46 earnings per share. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.36 EPS for the current fiscal year.

Comerica declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

CMA has been the subject of several research reports. StockNews.com raised Comerica from a "sell" rating to a "hold" rating in a report on Monday, October 21st. Royal Bank of Canada decreased their price objective on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Stephens lifted their price target on Comerica from $64.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Truist Financial raised Comerica to a "hold" rating in a report on Monday, January 6th. Finally, Morgan Stanley decreased their target price on Comerica from $76.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Three research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $68.33.

Insider Transactions at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the transaction, the executive vice president now owns 8,730 shares in the company, valued at approximately $600,885.90. This represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

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.