3,334 Shares in Comerica Incorporated (NYSE:CMA) Acquired by Violich Capital Management Inc.

Violich Capital Management Inc. bought a new position in shares of Comerica Incorporated (NYSE:CMA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,334 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other large investors have also bought and sold shares of the business. Wedmont Private Capital increased its stake in Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 186 shares in the last quarter. Blue Trust Inc. increased its stake in Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 200 shares in the last quarter. 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 purchasing an additional 228 shares in the last quarter. Centennial Wealth Advisory LLC increased its stake in Comerica by 5.2% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 252 shares in the last quarter. Finally, Savant Capital LLC increased its stake in Comerica by 2.2% during the 4th quarter. Savant Capital LLC now owns 13,037 shares of the financial services provider’s stock worth $806,000 after purchasing an additional 277 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Trading Down 2.0 %

Shares of Comerica stock opened at $66.24 on Tuesday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 13.19 and a beta of 1.25. The business has a fifty day simple moving average of $64.62 and a two-hundred day simple moving average of $61.95.

Comerica (NYSE:CMA) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 company posted $1.46 EPS. Research analysts forecast that Comerica Incorporated will post 5.34 EPS for the current year.

Comerica announced that its board has authorized a share buyback program on Tuesday, November 5th that permits the company to buyback 10,000,000 shares. This buyback authorization permits 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 board believes its shares are undervalued.

Wall Street Analyst Weigh In

CMA has been the subject of several research reports. DA Davidson decreased their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Piper Sandler raised their price target on shares of Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays raised their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada decreased their price target on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.33.

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.