Fishman Jay A Ltd. MI Trims Stake in Comerica Incorporated (NYSE:CMA)

Fishman Jay A Ltd. MI lowered its position in Comerica Incorporated (NYSE:CMA) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 107,759 shares of the financial services provider’s stock after selling 2,204 shares during the period. Comerica accounts for about 0.6% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 24th largest holding. Fishman Jay A Ltd. MI owned about 0.08% of Comerica worth $6,665,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp purchased a new stake in Comerica in the second quarter worth about $318,000. Sanctuary Advisors LLC purchased a new stake in shares of Comerica in the second quarter worth $449,000. Fiduciary Alliance LLC bought a new position in shares of Comerica during the third quarter valued at $506,000. CX Institutional purchased a new position in shares of Comerica in the 3rd quarter worth about $213,000. Finally, Bleakley Financial Group LLC boosted its stake in Comerica by 8.5% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,478 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 351 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Argus upgraded shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Piper Sandler upped their price objective on Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial upgraded Comerica to a “hold” rating in a research note on Monday, January 6th. Barclays boosted their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Finally, Robert W. Baird increased their price objective on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $68.57.

Comerica Stock Up 1.4 %

CMA opened at $67.06 on Wednesday. The firm’s 50 day simple moving average is $64.55 and its two-hundred day simple moving average is $62.05. The company has a market capitalization of $8.82 billion, a PE ratio of 13.36 and a beta of 1.25. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 prior year, the firm earned $1.46 earnings per share. As a group, equities analysts forecast that Comerica Incorporated will post 5.34 EPS for the current year.

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

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.