Greenwood Capital Associates LLC Has $852,000 Position in Comerica Incorporated (NYSE:CMA)

Greenwood Capital Associates LLC trimmed its position in Comerica Incorporated (NYSE:CMA) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,779 shares of the financial services provider’s stock after selling 478 shares during the period. Greenwood Capital Associates LLC’s holdings in Comerica were worth $852,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CMA. Trust Co. of Vermont raised its holdings in Comerica by 300.0% in 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 during the period. Luken Investment Analytics LLC acquired a new stake in Comerica during the 4th quarter worth $31,000. V Square Quantitative Management LLC bought a new position in Comerica during the third quarter worth about $36,000. MCF Advisors LLC grew its stake in Comerica by 56.3% in the fourth 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 period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica in the third quarter worth about $42,000. Institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CMA. Morgan Stanley cut their price objective on Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Evercore ISI raised their price objective on shares of Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods reduced their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Stephens increased their target price on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus target price of $68.33.

Comerica Trading Up 3.0 %

NYSE CMA opened at $67.93 on Wednesday. Comerica Incorporated has a 12 month low of $45.32 and a 12 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 stock has a 50 day moving average of $64.98 and a 200-day moving average of $61.51. The company has a market cap of $8.93 billion, a PE ratio of 13.53 and a beta of 1.25.

Comerica (NYSE:CMA) last announced 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 net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the firm posted $1.46 earnings per share. On average, equities research analysts anticipate that Comerica Incorporated will post 5.36 EPS for the current fiscal year.

Comerica announced that its Board of Directors has initiated a share 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 buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Comerica

In related news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares in the company, valued at approximately $600,885.90. This represents a 13.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

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.