Morton Brown Family Wealth LLC Cuts Holdings in Comerica Incorporated (NYSE:CMA)

Morton Brown Family Wealth LLC reduced its position in shares of Comerica Incorporated (NYSE:CMA) by 34.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,513 shares of the financial services provider’s stock after selling 786 shares during the quarter. Morton Brown Family Wealth LLC’s holdings in Comerica were worth $94,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Trust Co. of Vermont boosted its position in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new stake in Comerica in the 4th quarter valued at $31,000. V Square Quantitative Management LLC purchased a new stake in Comerica in the 3rd quarter worth $36,000. MCF Advisors LLC raised its position in Comerica by 56.3% during the fourth 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. Finally, Wilmington Savings Fund Society FSB purchased a new position in Comerica during the third quarter valued at $42,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upped their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods reduced their price objective on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Finally, Argus upgraded shares of Comerica to a “hold” rating in a research report on Friday, January 31st. 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 MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus target price of $68.57.

Comerica Price Performance

Shares of CMA opened at $67.13 on Tuesday. The firm has a 50-day simple moving average of $64.35 and a two-hundred day simple moving average of $62.42. The stock has a market cap of $8.83 billion, a PE ratio of 13.37 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 debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA) last posted its 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 last year, the company posted $1.46 earnings per share. As a group, analysts forecast that Comerica Incorporated will post 5.34 EPS for the current year.

Comerica declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 5th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors 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.