MADDEN SECURITIES Corp Sells 5,114 Shares of Comerica Incorporated (NYSE:CMA)

MADDEN SECURITIES Corp lessened its holdings in Comerica Incorporated (NYSE:CMA) by 5.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 97,068 shares of the financial services provider’s stock after selling 5,114 shares during the period. Comerica accounts for approximately 2.4% of MADDEN SECURITIES Corp’s holdings, making the stock its 11th biggest position. MADDEN SECURITIES Corp owned about 0.07% of Comerica worth $6,004,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp bought a new stake in Comerica during the 2nd quarter valued at approximately $318,000. Sanctuary Advisors LLC bought a new stake in shares of Comerica during the second quarter valued at approximately $449,000. Atomi Financial Group Inc. purchased a new position in shares of Comerica in the third quarter worth $218,000. Fiduciary Alliance LLC purchased a new position in shares of Comerica in the third quarter worth $506,000. Finally, CX Institutional bought a new position in shares of Comerica during the third quarter worth $213,000. 80.74% of the stock is owned by institutional investors.

Comerica Trading Down 2.0 %

Shares of NYSE:CMA opened at $66.24 on Tuesday. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a market cap of $8.71 billion, a PE ratio of 13.19 and a beta of 1.25. The company’s 50-day moving average price is $64.62 and its 200 day moving average price is $61.95. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last released its 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 quarter in the prior year, the company earned $1.46 earnings per share. Sell-side analysts anticipate that Comerica Incorporated will post 5.34 earnings per share for the current year.

Comerica declared that its Board of Directors has initiated a share buyback 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. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Truist Financial upgraded shares of Comerica to a “hold” rating in a report on Monday, January 6th. The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. 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 note on Thursday, January 23rd. Morgan Stanley reduced their price objective on Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Three equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.33.

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.