5,938 Shares in Comerica Incorporated (NYSE:CMA) Bought by WCM Investment Management LLC

WCM Investment Management LLC acquired a new stake in Comerica Incorporated (NYSE:CMA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,938 shares of the financial services provider’s stock, valued at approximately $365,000.

A number of other large investors have also modified their holdings of CMA. Trust Co. of Vermont increased its stake in shares of Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica in the fourth quarter valued at approximately $31,000. V Square Quantitative Management LLC purchased a new stake in shares of Comerica in the third quarter valued at approximately $36,000. MCF Advisors LLC lifted its position in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after buying an additional 228 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Comerica in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Down 2.0 %

CMA stock opened at $66.24 on Tuesday. The firm has a market cap of $8.71 billion, a PE ratio of 13.19 and a beta of 1.25. Comerica Incorporated has a one year low of $45.32 and a one year 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 firm’s 50 day moving average price is $64.62 and its 200-day moving average price is $61.95.

Comerica (NYSE:CMA) last announced 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 last year, the business posted $1.46 earnings per share. On average, equities research analysts anticipate that Comerica Incorporated will post 5.34 EPS for the current year.

Comerica announced that its board has authorized a stock 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 buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

CMA has been the subject of a number of research analyst reports. UBS Group assumed coverage on shares of Comerica in a research report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price objective for the company. Keefe, Bruyette & Woods decreased their price target on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler lifted their price objective on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley reduced their target price on Comerica from $76.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group lowered Comerica from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Comerica has an average rating of “Hold” and a consensus price target of $68.33.

Comerica Company 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.