Phocas Financial Corp. cut its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 85.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,605 shares of the financial services provider's stock after selling 111,047 shares during the period. Phocas Financial Corp.'s holdings in Comerica were worth $1,213,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Wedmont Private Capital grew its stake in shares of Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider's stock valued at $474,000 after acquiring an additional 186 shares during the period. Blue Trust Inc. boosted its stake in shares of Comerica by 5.2% during 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 during the period. V Square Quantitative Management LLC grew its holdings in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 221 shares during the last quarter. MCF Advisors LLC raised its position in Comerica by 56.3% in the 4th 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 period. Finally, Centennial Wealth Advisory LLC lifted its stake in Comerica by 5.2% in the third quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider's stock worth $304,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.
Shares of CMA stock opened at $64.28 on Wednesday. The company has a market capitalization of $8.45 billion, a P/E ratio of 12.80 and a beta of 1.25. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The business's 50 day moving average is $64.33 and its two-hundred day moving average is $63.03. 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 - Get Free Report) last released its earnings results 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 return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the previous year, the firm posted $1.46 EPS. Analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.
Comerica declared that its Board of Directors has authorized a share repurchase plan on Tuesday, November 5th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.42%. Comerica's dividend payout ratio (DPR) is presently 56.57%.
A number of equities research analysts recently issued reports on the company. Piper Sandler raised their price target on Comerica from $64.00 to $72.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Robert W. Baird lifted their price objective on Comerica from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Barclays raised their target price on shares of Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods dropped their price objective on shares of Comerica from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company raised shares of Comerica from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $51.00 to $73.00 in a research note on Friday, November 15th. Three equities research 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $68.57.
Check Out Our Latest Stock Analysis on 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.
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