Luken Investment Analytics LLC Invests $31,000 in Comerica Incorporated (NYSE:CMA)

Luken Investment Analytics LLC purchased a new position in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 500 shares of the financial services provider’s stock, valued at approximately $31,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Trust Co. of Vermont lifted its stake in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares during the period. V Square Quantitative Management LLC acquired a new position in Comerica in the 3rd quarter worth $36,000. MCF Advisors LLC grew its position in Comerica by 56.3% in the fourth 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Comerica in the 3rd quarter valued at about $42,000. Finally, UMB Bank n.a. increased its holdings in shares of Comerica by 74.2% during the 4th quarter. UMB Bank n.a. now owns 1,488 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 634 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the transaction, the executive vice president now directly owns 8,730 shares in the company, valued at approximately $600,885.90. This represents a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Comerica Trading Up 3.4 %

Shares of CMA opened at $67.49 on Friday. The stock has a 50 day simple moving average of $65.28 and a 200-day simple moving average of $61.19. 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 Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The stock has a market cap of $8.88 billion, a PE ratio of 13.44 and a beta of 1.26.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS 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 prior year, the firm earned $1.46 earnings per share. On average, sell-side analysts predict that Comerica Incorporated will post 5.35 EPS for the current fiscal year.

Comerica announced that its board has approved a share repurchase program on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.21%. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CMA shares. Piper Sandler raised their price target on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Compass Point boosted their price target on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Bank of America cut Comerica from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $55.00 to $52.00 in a research note on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.