Ieq Capital LLC Acquires 42,969 Shares of Comerica Incorporated (NYSE:CMA)

Ieq Capital LLC lifted its holdings in Comerica Incorporated (NYSE:CMA) by 249.2% in the fourth quarter, Holdings Channel reports. The fund owned 60,213 shares of the financial services provider’s stock after purchasing an additional 42,969 shares during the quarter. Ieq Capital LLC’s holdings in Comerica were worth $3,724,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CMA. Trust Co. of Vermont lifted its stake in Comerica by 300.0% in 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 last quarter. Luken Investment Analytics LLC bought a new stake in shares of Comerica during the fourth quarter valued at approximately $31,000. MCF Advisors LLC raised its stake in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica during the third quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC raised its stake in shares of Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 221 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMA shares. Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Evercore ISI lifted their price objective 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. Barclays lifted their price objective on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Piper Sandler lifted their price objective on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley cut their price objective on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Comerica currently has a consensus rating of “Hold” and a consensus target price of $68.57.

Comerica Trading Down 2.2 %

NYSE CMA opened at $65.54 on Friday. The company has a fifty day moving average of $64.37 and a 200 day moving average of $62.70. The company has a market capitalization of $8.62 billion, a PE ratio of 13.06 and a beta of 1.25. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA) last issued 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 return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the company posted $1.46 earnings per share. Research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica declared that its Board of Directors has authorized a share 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 buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.