Hussman Strategic Advisors Inc. Makes New Investment in Comerica Incorporated (NYSE:CMA)

Hussman Strategic Advisors Inc. purchased a new position in Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 21,000 shares of the financial services provider’s stock, valued at approximately $1,299,000.

Several other large investors also recently modified their holdings of the company. Trust Co. of Vermont lifted 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 valued at $26,000 after buying an additional 321 shares during the period. Luken Investment Analytics LLC bought a new position in shares of Comerica in the 4th quarter worth about $31,000. 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 purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica during the 3rd quarter valued at about $42,000. Finally, V Square Quantitative Management LLC grew its stake 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 purchasing an additional 221 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Performance

Shares of CMA opened at $67.80 on Thursday. The stock has a 50 day moving average of $64.37 and a 200 day moving average of $62.57. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 13.51 and a beta of 1.25. 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.

Comerica (NYSE:CMA) last posted its quarterly earnings results 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 net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the prior year, the business posted $1.46 EPS. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 5th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on CMA. Royal Bank of Canada dropped their price target on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods cut their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Compass Point raised their price target on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. Finally, Piper Sandler increased their price objective on shares of Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.57.

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.