Comerica Incorporated (NYSE:CMA) Shares Sold by Fruth Investment Management

Fruth Investment Management decreased its position in Comerica Incorporated (NYSE:CMA) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,590 shares of the financial services provider’s stock after selling 300 shares during the period. Fruth Investment Management’s holdings in Comerica were worth $778,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. State Street Corp lifted its holdings in Comerica by 2.0% in the 3rd quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock valued at $301,745,000 after acquiring an additional 96,084 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Comerica by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider’s stock valued at $257,975,000 after purchasing an additional 226,285 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Comerica by 31.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider’s stock worth $144,312,000 after buying an additional 574,516 shares in the last quarter. Azora Capital LP grew its position in Comerica by 7.8% in the third quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider’s stock worth $133,621,000 after buying an additional 161,181 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Comerica by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock valued at $126,555,000 after buying an additional 29,661 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 0.9 %

Shares of Comerica stock opened at $68.42 on Thursday. The stock has a 50-day simple moving average of $64.90 and a 200-day simple moving average of $61.56. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 13.63 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

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

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CMA. Argus upgraded Comerica to a “hold” rating in a report on Friday, January 31st. The Goldman Sachs Group cut Comerica from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Stephens lifted their target price on shares of Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Piper Sandler upped their price target on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Comerica presently has an average rating of “Hold” and an average target price of $68.33.

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.