TCW Group Inc. Takes Position in Comerica Incorporated (NYSE:CMA)

TCW Group Inc. acquired a new position in shares of Comerica Incorporated (NYSE:CMA) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,701 shares of the financial services provider’s stock, valued at approximately $1,095,000.

Several other large investors have also modified their holdings of CMA. Citigroup Inc. boosted its stake in shares of Comerica by 390.6% during the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock worth $45,628,000 after acquiring an additional 606,375 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Comerica by 31.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider’s stock worth $144,312,000 after acquiring an additional 574,516 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Comerica by 134.0% in the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after buying an additional 490,468 shares during the period. Primecap Management Co. CA acquired a new stake in shares of Comerica in the third quarter worth $26,630,000. Finally, Holocene Advisors LP acquired a new stake in shares of Comerica in the third quarter worth $16,272,000. 80.74% of the stock is owned by institutional investors.

Comerica Trading Down 0.9 %

Comerica stock opened at $64.86 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50-day simple moving average is $64.34 and its 200-day simple moving average is $62.94. The firm has a market capitalization of $8.53 billion, a PE ratio of 12.92 and a beta of 1.25. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45.

Comerica (NYSE:CMA) last posted its quarterly earnings data 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 in the prior year, the business earned $1.46 earnings per share. Equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica declared that its board has approved a share repurchase program on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

CMA has been the subject of several recent analyst reports. Compass Point raised their target price on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. Royal Bank of Canada decreased their target price on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Argus raised Comerica to a “hold” rating in a research report on Friday, January 31st. Finally, UBS Group started coverage on Comerica in a research report on Tuesday, December 17th. They issued a “sell” rating and a $64.00 target price for the company. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Comerica has a consensus rating of “Hold” and a consensus price target of $68.57.

Comerica 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.