D.A. Davidson & CO. Sells 1,916 Shares of Comerica Incorporated (NYSE:CMA)

D.A. Davidson & CO. lowered its stake in Comerica Incorporated (NYSE:CMA) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,880 shares of the financial services provider’s stock after selling 1,916 shares during the quarter. D.A. Davidson & CO.’s holdings in Comerica were worth $1,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CMA. Allworth Financial LP raised its holdings in Comerica by 290.7% in the 4th quarter. Allworth Financial LP now owns 2,930 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 2,180 shares during the last quarter. Stieven Capital Advisors L.P. lifted its stake in shares of Comerica by 15.4% in the 4th quarter. Stieven Capital Advisors L.P. now owns 161,047 shares of the financial services provider’s stock worth $9,961,000 after purchasing an additional 21,500 shares during the period. Rhumbline Advisers boosted its stake in shares of Comerica by 8.8% during the 4th quarter. Rhumbline Advisers now owns 393,247 shares of the financial services provider’s stock worth $24,322,000 after acquiring an additional 31,822 shares during the last quarter. New Mexico Educational Retirement Board purchased a new position in Comerica during the fourth quarter valued at $1,676,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after buying an additional 221 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Price Performance

NYSE CMA opened at $65.54 on Monday. The company has a market cap of $8.62 billion, a PE ratio of 13.06 and a beta of 1.25. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50 day moving average price is $64.37 and its 200-day moving average price is $62.86.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 quarter in the previous year, the business earned $1.46 EPS. Sell-side analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica announced that its board has approved a share repurchase plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Wells Fargo & Company upgraded Comerica from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. Piper Sandler lifted their price objective on shares of Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Robert W. Baird lifted their target price on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.