Comerica Incorporated (NYSE:CMA) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC boosted its holdings in Comerica Incorporated (NYSE:CMA) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,393 shares of the financial services provider’s stock after acquiring an additional 1,598 shares during the period. Wolverine Asset Management LLC’s holdings in Comerica were worth $2,065,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CMA. JPMorgan Chase & Co. lifted its stake in shares of Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after purchasing an additional 490,468 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Comerica by 158.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider’s stock valued at $1,218,000 after buying an additional 12,454 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Comerica by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider’s stock valued at $257,975,000 after buying an additional 226,285 shares during the period. Citigroup Inc. lifted its position in Comerica by 390.6% in the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock valued at $45,628,000 after buying an additional 606,375 shares during the last quarter. Finally, Petiole USA ltd boosted its stake in Comerica by 164.7% during the third quarter. Petiole USA ltd now owns 57,855 shares of the financial services provider’s stock worth $3,466,000 after buying an additional 36,000 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Stock Performance

Shares of CMA stock opened at $65.54 on Friday. Comerica Incorporated has a 12 month low of $45.32 and a 12 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. The company has a market cap of $8.62 billion, a P/E ratio of 13.06 and a beta of 1.25. The firm has a fifty day moving average price of $64.37 and a 200 day moving average price of $62.70.

Comerica (NYSE:CMA) last released its quarterly earnings data 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 previous year, the company posted $1.46 earnings per share. Sell-side analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Comerica from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $51.00 to $73.00 in a research note on Friday, November 15th. UBS Group assumed coverage on Comerica in a research report on Tuesday, December 17th. They issued a “sell” rating and a $64.00 target price on the stock. Keefe, Bruyette & Woods lowered their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. Finally, Compass Point increased their target price on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.57.

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.