Comerica Incorporated (NYSE:CMA) Shares Sold by South Dakota Investment Council

South Dakota Investment Council lowered its stake in shares of Comerica Incorporated (NYSE:CMA) by 4.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,847 shares of the financial services provider’s stock after selling 3,557 shares during the quarter. South Dakota Investment Council owned approximately 0.07% of Comerica worth $5,310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMA. Trust Co. of Vermont boosted its position in Comerica by 300.0% during the 4th 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 acquired a new position in Comerica during the 4th quarter worth $31,000. MCF Advisors LLC boosted its position in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Comerica during the 3rd quarter worth $42,000. Finally, V Square Quantitative Management LLC boosted its position in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 221 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

CMA has been the subject of a number of analyst reports. The Goldman Sachs Group lowered Comerica from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. UBS Group started coverage on Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price objective on the stock. Robert W. Baird boosted their price objective on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $51.00 to $73.00 in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods dropped their price objective on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Comerica has an average rating of “Hold” and an average target price of $68.57.

Comerica Stock Down 2.2 %

NYSE:CMA opened at $65.54 on Monday. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 13.06 and a beta of 1.25. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. 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 business’s fifty day moving average price is $64.37 and its 200 day moving average price is $62.86.

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 period last year, the business earned $1.46 EPS. On average, sell-side analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica declared that its board has authorized a stock repurchase 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. Shares buyback plans are typically a sign that the company’s management believes its shares are 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.