D.A. Davidson & CO. Sells 1,916 Shares of Comerica Incorporated (NYSE:CMA)

D.A. Davidson & CO. cut its stake in Comerica Incorporated (NYSE:CMA) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,880 shares of the financial services provider’s stock after selling 1,916 shares during the quarter. D.A. Davidson & CO.’s holdings in Comerica were worth $1,230,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont increased its holdings in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares during the period. Luken Investment Analytics LLC acquired a new position in Comerica during the 4th quarter worth approximately $31,000. MCF Advisors LLC boosted its holdings in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Comerica in the third quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC increased its position in Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 221 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada decreased their price target on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $51.00 to $73.00 in a report on Friday, November 15th. JPMorgan Chase & Co. lowered their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI upped their target price 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. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.57.

Comerica Stock Down 2.2 %

CMA opened at $65.54 on Monday. 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 has a market cap of $8.62 billion, a price-to-earnings ratio of 13.06 and a beta of 1.25. The company’s 50-day moving average price is $64.37 and its two-hundred day moving average price is $62.86. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45.

Comerica (NYSE:CMA) last issued 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 net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the firm posted $1.46 EPS. As a group, equities analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica announced that its Board of Directors has approved a share buyback plan on Tuesday, November 5th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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.