Comerica Incorporated (NYSE:CMA) Shares Purchased by Vest Financial LLC

Vest Financial LLC boosted its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 62.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,197 shares of the financial services provider's stock after buying an additional 15,481 shares during the period. Vest Financial LLC's holdings in Comerica were worth $2,486,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised 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 valued at $51,309,000 after buying an additional 490,468 shares during the period. Oppenheimer & Co. Inc. increased its stake in Comerica by 158.2% during the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider's stock worth $1,218,000 after purchasing an additional 12,454 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Comerica by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider's stock worth $257,975,000 after purchasing an additional 226,285 shares during the period. Citigroup Inc. increased its stake in Comerica by 390.6% during the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock worth $45,628,000 after purchasing an additional 606,375 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in Comerica during the third quarter worth about $1,905,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CMA shares. Morgan Stanley cut 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. Wells Fargo & Company upgraded shares of Comerica from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $51.00 to $73.00 in a research note on Friday, November 15th. UBS Group started coverage on shares of Comerica in a research report on Tuesday, December 17th. They set a "sell" rating and a $64.00 target price on the stock. Barclays raised their target price on shares of Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods decreased their price target on Comerica from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Three equities research 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $68.57.

Comerica Price Performance

Comerica stock traded down $0.20 during midday trading on Wednesday, reaching $66.87. 1,909,216 shares of the company were exchanged, compared to its average volume of 2,221,476. 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 company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 13.32 and a beta of 1.25. The firm's 50-day simple moving average is $64.47 and its 200-day simple moving average is $62.08. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 period in the previous year, the firm posted $1.46 earnings per share. On average, analysts anticipate that Comerica Incorporated will post 5.34 EPS for the current year.

Comerica declared that its board has authorized a stock repurchase plan on Tuesday, November 5th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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.