Fishman Jay A Ltd. MI Sells 2,204 Shares of Comerica Incorporated (NYSE:CMA)

Fishman Jay A Ltd. MI lowered its position in Comerica Incorporated (NYSE:CMA) by 2.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 107,759 shares of the financial services provider’s stock after selling 2,204 shares during the quarter. Comerica makes up about 0.6% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 24th largest position. Fishman Jay A Ltd. MI’s holdings in Comerica were worth $6,665,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Wedmont Private Capital lifted its holdings in shares of Comerica by 2.4% in the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock worth $474,000 after buying an additional 186 shares in the last quarter. Blue Trust Inc. lifted its stake in Comerica by 5.2% in the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 200 shares in the last quarter. MCF Advisors LLC boosted its holdings in shares of Comerica by 56.3% during 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 last quarter. Centennial Wealth Advisory LLC boosted its holdings in shares of Comerica by 5.2% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 252 shares during the last quarter. Finally, Savant Capital LLC grew its position in shares of Comerica by 2.2% during the fourth quarter. Savant Capital LLC now owns 13,037 shares of the financial services provider’s stock valued at $806,000 after purchasing an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CMA has been the subject of a number of research reports. DA Davidson dropped their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and cut their target price for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. Robert W. Baird upped their price target on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Stephens lifted their price objective on shares of Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.57.

Comerica Price Performance

Shares of CMA stock opened at $67.06 on Wednesday. The stock has a 50 day moving average price of $64.55 and a 200 day moving average price of $62.05. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $8.82 billion, a P/E ratio of 13.36 and a beta of 1.25.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 EPS. As a group, sell-side analysts predict that Comerica Incorporated will post 5.34 earnings per share for the current year.

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

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.