Deseret Mutual Benefit Administrators Purchases 407 Shares of Comerica Incorporated (NYSE:CMA)

Deseret Mutual Benefit Administrators grew its position in Comerica Incorporated (NYSE:CMA) by 38.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,453 shares of the financial services provider’s stock after acquiring an additional 407 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Comerica were worth $90,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Wedmont Private Capital lifted its stake in shares of Comerica by 2.4% in the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 186 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Comerica by 5.2% in the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 200 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 221 shares during the last quarter. MCF Advisors LLC lifted 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 valued at $39,000 after acquiring an additional 228 shares during the last quarter. Finally, Centennial Wealth Advisory LLC lifted its stake in shares of Comerica by 5.2% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider’s stock valued at $304,000 after acquiring an additional 252 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Price Performance

Comerica stock opened at $65.54 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a market cap of $8.62 billion, a P/E ratio of 13.06 and a beta of 1.25. The company’s 50 day moving average price is $64.37 and its two-hundred day moving average price is $62.78. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the prior year, the firm posted $1.46 earnings per share. On average, equities analysts predict that Comerica Incorporated will post 5.28 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 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on CMA shares. JPMorgan Chase & Co. lowered their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. DA Davidson lowered their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Barclays raised their target price on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Finally, Robert W. Baird raised their target price on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.57.

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.