Boston Trust Walden Corp Buys Shares of 3,300 Comerica Incorporated (NYSE:CMA)

Boston Trust Walden Corp purchased a new position in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,300 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Trust Co. of Vermont lifted its stake in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after buying an additional 321 shares during the period. Luken Investment Analytics LLC acquired a new position in Comerica in the 4th quarter valued at $31,000. V Square Quantitative Management LLC purchased a new position in shares of Comerica during the 3rd quarter worth $36,000. MCF Advisors LLC boosted its holdings 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 worth $39,000 after purchasing an additional 228 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the third quarter worth $42,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CMA. Keefe, Bruyette & Woods reduced their target price on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Truist Financial upgraded shares of Comerica to a “hold” rating in a report on Monday, January 6th. Compass Point upped their price target on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. UBS Group began coverage on Comerica in a report on Tuesday, December 17th. They issued a “sell” rating and a $64.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.33.

Comerica Price Performance

Shares of CMA stock opened at $67.93 on Wednesday. The firm has a fifty day simple moving average of $64.98 and a 200-day simple moving average of $61.51. The company has a market capitalization of $8.93 billion, a PE ratio of 13.53 and a beta of 1.25. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. 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 (NYSE:CMA) last posted 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 previous year, the firm earned $1.46 earnings per share. Equities research analysts anticipate that Comerica Incorporated will post 5.36 earnings per share for the current fiscal year.

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

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 stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the transaction, the executive vice president now directly owns 8,730 shares of the company’s stock, valued at $600,885.90. This represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

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.