MADDEN SECURITIES Corp Has $6 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

MADDEN SECURITIES Corp trimmed its position in Comerica Incorporated (NYSE:CMA) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,068 shares of the financial services provider’s stock after selling 5,114 shares during the quarter. Comerica makes up 2.4% of MADDEN SECURITIES Corp’s portfolio, making the stock its 11th biggest position. MADDEN SECURITIES Corp’s holdings in Comerica were worth $6,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CMA. JPMorgan Chase & Co. boosted its holdings 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 valued at $51,309,000 after buying an additional 490,468 shares during the period. Oppenheimer & Co. Inc. increased its position 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 buying an additional 12,454 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Comerica by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider’s stock worth $257,975,000 after buying an additional 226,285 shares during the last quarter. Citigroup Inc. lifted its holdings in 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 purchasing an additional 606,375 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of Comerica in the third quarter valued at about $1,905,000. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Down 2.0 %

Shares of NYSE:CMA opened at $66.24 on Tuesday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50-day moving average is $64.62 and its 200-day moving average is $61.95. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 13.19 and a beta of 1.25.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) 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 earnings per share. Equities research analysts predict that Comerica Incorporated will post 5.34 earnings per share for the current year.

Comerica announced that its board has approved a share repurchase program on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes 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 management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada reduced their price objective on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. UBS Group assumed coverage on Comerica in a report on Tuesday, December 17th. They issued a “sell” rating and a $64.00 target price for the company. Piper Sandler lifted their price target on Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Stephens upped their price objective on Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Three 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’s stock. According to MarketBeat, Comerica has a consensus rating of “Hold” and an average price target of $68.33.

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.