Yousif Capital Management LLC Increases Position in Comerica Incorporated (NYSE:CMA)

Yousif Capital Management LLC raised its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 52.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,355 shares of the financial services provider's stock after purchasing an additional 3,918 shares during the period. Yousif Capital Management LLC's holdings in Comerica were worth $702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp lifted its position in Comerica by 2.0% in the third quarter. State Street Corp now owns 4,977,670 shares of the financial services provider's stock worth $301,745,000 after purchasing an additional 96,084 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Comerica by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider's stock valued at $257,975,000 after acquiring an additional 226,285 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Comerica by 31.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider's stock valued at $144,312,000 after acquiring an additional 574,516 shares during the period. Azora Capital LP raised its position in Comerica by 7.8% in the third quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider's stock worth $133,621,000 after purchasing an additional 161,181 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Comerica by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider's stock worth $126,555,000 after purchasing an additional 29,661 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Performance

Shares of NYSE CMA traded down $0.06 during trading on Wednesday, reaching $67.80. 1,277,907 shares of the stock traded hands, compared to its average volume of 2,103,119. The stock has a market capitalization of $8.92 billion, a P/E ratio of 13.51 and a beta of 1.25. Comerica Incorporated has a 52-week low of $45.32 and a 52-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 company has a 50-day moving average of $64.35 and a 200-day moving average of $62.54.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) 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 period in the previous year, the firm posted $1.46 EPS. Analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica announced that its board has initiated a stock buyback plan on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CMA. Compass Point upped their price objective on Comerica from $64.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. DA Davidson cut their price objective on Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. Argus upgraded shares of Comerica to a "hold" rating in a research report on Friday, January 31st. Piper Sandler lifted their target price on shares of Comerica from $64.00 to $72.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods reduced their target price on Comerica from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.