MeadowBrook Investment Advisors LLC Has $274,000 Stock Position in Comerica Incorporated (NYSE:CMA)

MeadowBrook Investment Advisors LLC reduced its holdings in Comerica Incorporated (NYSE:CMA) by 4.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,436 shares of the financial services provider’s stock after selling 230 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Comerica were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after purchasing an additional 490,468 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Comerica by 158.2% during the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider’s stock worth $1,218,000 after acquiring an additional 12,454 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Comerica by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider’s stock worth $257,975,000 after acquiring an additional 226,285 shares in the last quarter. Citigroup Inc. boosted its stake in Comerica by 390.6% during the third 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. Finally, Wolverine Asset Management LLC bought a new position in Comerica during the third quarter worth $1,905,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CMA shares. Compass Point raised their price objective on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. UBS Group began coverage on shares of Comerica in a report on Tuesday, December 17th. They issued a “sell” rating and a $64.00 target price for the company. StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Robert W. Baird increased their target price on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Truist Financial upgraded shares of Comerica to a “hold” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Comerica has a consensus rating of “Hold” and a consensus target price of $68.57.

Comerica Stock Up 1.4 %

Shares of Comerica stock opened at $67.06 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The company’s fifty day simple moving average is $64.55 and its two-hundred day simple moving average is $62.05. The company has a market cap of $8.82 billion, a P/E ratio of 13.36 and a beta of 1.25. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (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 quarter in the previous year, the company earned $1.46 EPS. Research analysts anticipate that Comerica Incorporated will post 5.34 EPS for the current year.

Comerica announced that its Board of Directors has initiated a share repurchase plan 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 plans are generally an indication that the company’s leadership 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.