MeadowBrook Investment Advisors LLC Sells 230 Shares of Comerica Incorporated (NYSE:CMA)

MeadowBrook Investment Advisors LLC trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,436 shares of the financial services provider’s stock after selling 230 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Comerica were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CMA. Truist Financial Corp purchased a new position in shares of Comerica in the second quarter worth $318,000. Sanctuary Advisors LLC purchased a new stake in Comerica during the second quarter valued at $449,000. Fiduciary Alliance LLC purchased a new stake in Comerica during the third quarter valued at $506,000. CX Institutional purchased a new stake in Comerica during the third quarter valued at $213,000. Finally, Bleakley Financial Group LLC raised its stake in shares of Comerica by 8.5% in the third quarter. Bleakley Financial Group LLC now owns 4,478 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 351 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Comerica Price Performance

Comerica stock opened at $67.06 on Wednesday. The company’s fifty day moving average price is $64.55 and its 200 day moving average price is $62.05. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The stock has a market capitalization of $8.82 billion, a P/E ratio of 13.36 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last announced its earnings results 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 quarter last year, the firm posted $1.46 EPS. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.34 earnings per share for the current fiscal year.

Comerica declared that its board has approved a stock repurchase program on Tuesday, November 5th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CMA has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced 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. Stephens upped their price target on shares of Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Morgan Stanley dropped their target price on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. DA Davidson dropped their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, Robert W. Baird increased their target price on shares of Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday. Three 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 stock. According to data from MarketBeat.com, the stock presently has a consensus 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.