Greenleaf Trust Decreases Stake in Comerica Incorporated (NYSE:CMA)

Greenleaf Trust cut its stake in Comerica Incorporated (NYSE:CMA) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,460 shares of the financial services provider’s stock after selling 354 shares during the quarter. Greenleaf Trust’s holdings in Comerica were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Trust Co. of Vermont grew its stake in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares during the period. Luken Investment Analytics LLC purchased a new position in shares of Comerica in the 4th quarter worth $31,000. V Square Quantitative Management LLC purchased a new position in shares of Comerica in the 3rd quarter worth $36,000. MCF Advisors LLC boosted its stake in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after buying an additional 228 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Comerica in the 3rd quarter worth $42,000. 80.74% of the stock is currently owned by institutional investors.

Comerica Stock Performance

Comerica stock opened at $67.93 on Wednesday. The company has a 50 day moving average price of $64.98 and a 200-day moving average price of $61.51. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. 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 capitalization of $8.93 billion, a PE ratio of 13.53 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate 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 prior year, the company posted $1.46 EPS. As a group, equities analysts forecast that Comerica Incorporated will post 5.36 earnings per share for the current year.

Comerica declared that its board has initiated 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 typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

CMA has been the topic of several recent research reports. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Truist Financial raised Comerica to a “hold” rating in a report on Monday, January 6th. DA Davidson cut their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company upgraded Comerica from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. lowered their price objective on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Comerica presently has a consensus rating of “Hold” and an average target price of $68.33.

Insider Activity

In other news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the transaction, the executive vice president now directly owns 8,730 shares in the company, valued at approximately $600,885.90. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

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.