Comerica Incorporated (NYSE:CMA) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC lifted its position in Comerica Incorporated (NYSE:CMA) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 33,393 shares of the financial services provider’s stock after acquiring an additional 1,598 shares during the period. Wolverine Asset Management LLC’s holdings in Comerica were worth $2,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its stake in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after buying an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Comerica in the 4th quarter valued at $31,000. MCF Advisors LLC raised its position in Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Comerica during the 3rd quarter worth $42,000. Finally, V Square Quantitative Management LLC grew 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 purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Trading Down 2.2 %

Shares of CMA opened at $65.54 on Friday. Comerica Incorporated has a twelve month low of $45.32 and a twelve month 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 firm has a market capitalization of $8.62 billion, a P/E ratio of 13.06 and a beta of 1.25. The firm’s 50-day moving average is $64.37 and its two-hundred day moving average is $62.70.

Comerica (NYSE:CMA) last released its quarterly earnings data 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 in the previous year, the company earned $1.46 earnings per share. On average, research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica declared that its board has initiated a stock repurchase program on Tuesday, November 5th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reduced their price objective on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Compass Point lifted their target price on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. cut their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $51.00 to $73.00 in a report on Friday, November 15th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.57.

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.