Centennial Wealth Advisory LLC Raises Holdings in Comerica Incorporated (NYSE:CMA)

Centennial Wealth Advisory LLC boosted its position in Comerica Incorporated (NYSE:CMA) by 7.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,433 shares of the financial services provider’s stock after acquiring an additional 365 shares during the period. Centennial Wealth Advisory LLC’s holdings in Comerica were worth $336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMA. Truist Financial Corp purchased a new stake in Comerica in the 2nd quarter worth approximately $318,000. Sanctuary Advisors LLC purchased a new stake in shares of Comerica during the 2nd quarter valued at $449,000. Handelsbanken Fonder AB grew its stake in shares of Comerica by 44.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 37,500 shares of the financial services provider’s stock valued at $2,247,000 after buying an additional 11,600 shares during the period. GAMMA Investing LLC grew its stake in shares of Comerica by 35.3% during the 3rd quarter. GAMMA Investing LLC now owns 5,585 shares of the financial services provider’s stock valued at $335,000 after buying an additional 1,457 shares during the period. Finally, Atomi Financial Group Inc. purchased a new stake in shares of Comerica during the 3rd quarter valued at $218,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Price Performance

CMA opened at $68.42 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The company has a 50-day moving average of $64.90 and a 200-day moving average of $61.56. The company has a market capitalization of $9.00 billion, a P/E ratio of 13.63 and a beta of 1.25.

Comerica (NYSE:CMA) last announced its quarterly earnings data 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 quarter in the prior year, the company posted $1.46 EPS. Equities analysts expect that Comerica Incorporated will post 5.36 EPS for the current fiscal year.

Comerica declared that its board has approved a stock repurchase program on Tuesday, November 5th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently issued reports on CMA shares. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Robert W. Baird reduced their target price on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. Argus upgraded shares of Comerica to a “hold” rating in a report on Friday, January 31st. Finally, Evercore ISI lifted their target price on shares of Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus price target of $68.33.

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.