Allworth Financial LP Boosts Stock Holdings in Comerica Incorporated (NYSE:CMA)

Allworth Financial LP boosted its position in shares of Comerica Incorporated (NYSE:CMA) by 290.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,930 shares of the financial services provider’s stock after buying an additional 2,180 shares during the period. Allworth Financial LP’s holdings in Comerica were worth $184,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CMA. Trust Co. of Vermont increased its stake in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in Comerica during the 4th quarter worth approximately $31,000. MCF Advisors LLC increased its stake in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after buying an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Comerica during the 3rd quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC increased its stake in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after buying an additional 221 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Stock Down 2.2 %

NYSE:CMA opened at $65.54 on Friday. 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 stock’s fifty day moving average is $64.37 and its two-hundred day moving average is $62.78. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 13.06 and a beta of 1.25.

Comerica (NYSE:CMA) last released its quarterly 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 last year, the firm earned $1.46 EPS. Research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica announced that its board has authorized a share 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 reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CMA shares. Compass Point upped their price target on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler upped their price target 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 report on Monday, January 6th. JPMorgan Chase & Co. dropped their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, DA Davidson dropped their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.57.

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.