Mirae Asset Global Investments Co. Ltd. Buys 15,178 Shares of Comerica Incorporated (NYSE:CMA)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Comerica Incorporated (NYSE:CMA) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,025 shares of the financial services provider’s stock after buying an additional 15,178 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.07% of Comerica worth $5,931,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CMA. Trust Co. of Vermont raised its stake 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 purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Comerica in the 4th quarter valued at $31,000. V Square Quantitative Management LLC acquired a new stake in shares of Comerica during the 3rd quarter valued at about $36,000. MCF Advisors LLC grew 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. Finally, Wilmington Savings Fund Society FSB bought a new stake in Comerica in the third quarter valued at $42,000. 80.74% of the stock is currently owned by institutional investors.

Comerica Price Performance

Shares of CMA stock opened at $67.60 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The firm has a fifty day moving average of $64.72 and a 200-day moving average of $61.72. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 13.47 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 earnings per share (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 period in the prior year, the company earned $1.46 earnings per share. On average, equities research analysts forecast that Comerica Incorporated will post 5.36 earnings per share for the current year.

Comerica declared that its board has authorized a stock buyback plan on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CMA shares. The Goldman Sachs Group downgraded shares of Comerica from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Evercore ISI increased their price target on Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Stephens lifted their price objective on Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Morgan Stanley decreased 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. 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.