Greenwood Capital Associates LLC Has $852,000 Holdings in Comerica Incorporated (NYSE:CMA)

Greenwood Capital Associates LLC trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,779 shares of the financial services provider’s stock after selling 478 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Comerica were worth $852,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CMA. Boston Trust Walden Corp acquired a new stake in shares of Comerica in the fourth quarter valued at approximately $204,000. Sylvest Advisors LLC bought a new position in Comerica during the 4th quarter worth $614,000. Luken Investment Analytics LLC acquired a new position in Comerica in the 4th quarter valued at $31,000. New England Research & Management Inc. bought a new stake in shares of Comerica during the 4th quarter valued at $784,000. Finally, R Squared Ltd acquired a new stake in shares of Comerica during the 4th quarter worth $132,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMA. Evercore ISI lifted their price target on Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lowered their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods cut their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. DA Davidson lowered their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Finally, Robert W. Baird cut their price objective on Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Three research 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 MarketBeat, Comerica presently has a consensus rating of “Hold” and an average price target of $68.33.

Comerica Stock Performance

Shares of Comerica stock opened at $67.93 on Wednesday. The company has a market cap of $8.93 billion, a P/E ratio of 13.53 and a beta of 1.25. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $64.98 and a two-hundred day moving average price of $61.51. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA) last issued its earnings results 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 period in the prior year, the company earned $1.46 earnings per share. As a group, analysts anticipate that Comerica Incorporated will post 5.36 EPS for the current year.

Comerica announced that its board has initiated a stock repurchase plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the firm’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 completion of the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at approximately $600,885.90. This trade represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.