Comerica Incorporated (NYSE:CMA) Shares Sold by Fruth Investment Management

Fruth Investment Management decreased its position in Comerica Incorporated (NYSE:CMA) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,590 shares of the financial services provider’s stock after selling 300 shares during the quarter. Fruth Investment Management’s holdings in Comerica were worth $778,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Truist Financial Corp acquired a new stake in Comerica during the 2nd quarter valued at $318,000. Sanctuary Advisors LLC purchased a new position in Comerica in the second quarter valued at about $449,000. Handelsbanken Fonder AB grew its stake in Comerica by 44.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 37,500 shares of the financial services provider’s stock valued at $2,247,000 after purchasing an additional 11,600 shares in the last quarter. GAMMA Investing LLC grew its stake in Comerica by 35.3% during the 3rd quarter. GAMMA Investing LLC now owns 5,585 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new stake in Comerica during the 3rd quarter worth approximately $218,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CMA shares. StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Evercore ISI raised their price objective on shares of Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their target price on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. DA Davidson decreased their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Finally, UBS Group assumed coverage on Comerica in a research note on Tuesday, December 17th. They set a “sell” rating and a $64.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Comerica has an average rating of “Hold” and a consensus target price of $68.33.

Comerica Trading Up 0.9 %

Comerica stock opened at $68.42 on Thursday. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 13.63 and a beta of 1.25. The firm has a 50-day moving average price of $64.90 and a two-hundred day moving average price of $61.56.

Comerica (NYSE:CMA) 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 the consensus estimate 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 last year, the company earned $1.46 EPS. Sell-side analysts expect that Comerica Incorporated will post 5.36 earnings per share for the current year.

Comerica announced that its board has authorized a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.