Ledyard National Bank Trims Stake in Comerica Incorporated (NYSE:CMA)

Ledyard National Bank lessened its position in shares of Comerica Incorporated (NYSE:CMA) by 10.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,000 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. Ledyard National Bank’s holdings in Comerica were worth $804,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont boosted its holdings in shares of 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 acquiring 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 purchased a new position in Comerica during the 3rd quarter worth $36,000. MCF Advisors LLC grew its position in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Comerica in the third quarter valued at $42,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Performance

NYSE CMA opened at $67.91 on Friday. The business has a 50 day moving average price of $64.81 and a 200 day moving average price of $61.60. 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 market capitalization of $8.93 billion, a P/E ratio of 13.53 and a beta of 1.25. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 period in the previous year, the firm posted $1.46 earnings per share. Sell-side analysts expect that Comerica Incorporated will post 5.36 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CMA. Argus upgraded shares of Comerica to a “hold” rating in a research note on Friday, January 31st. StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Morgan Stanley dropped their target price on Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Finally, Compass Point boosted their price objective on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.