17,701 Shares in Comerica Incorporated (NYSE:CMA) Purchased by TCW Group Inc.

TCW Group Inc. bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,701 shares of the financial services provider’s stock, valued at approximately $1,095,000.

A number of other institutional investors have also added to or reduced their stakes in CMA. Trust Co. of Vermont grew 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 buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new stake in Comerica during the fourth quarter worth about $31,000. MCF Advisors LLC grew 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 buying an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Comerica during the third quarter worth about $42,000. Finally, V Square Quantitative Management LLC grew its position in Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after buying an additional 221 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on CMA. Keefe, Bruyette & Woods decreased their price objective on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $51.00 to $73.00 in a report on Friday, November 15th. Barclays lifted their price objective on Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Finally, Truist Financial raised Comerica to a “hold” rating in a report on Monday, January 6th. 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’s stock. According to MarketBeat.com, Comerica presently has an average rating of “Hold” and an average price target of $68.57.

Comerica Stock Performance

CMA stock opened at $64.86 on Tuesday. 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 company has a 50 day moving average price of $64.34 and a 200 day moving average price of $62.94. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The stock has a market capitalization of $8.53 billion, a PE ratio of 12.92 and a beta of 1.25.

Comerica (NYSE:CMA) last posted 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 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. Analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Comerica 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.