Comerica Incorporated (NYSE:CMA) Position Increased by New York State Teachers Retirement System

New York State Teachers Retirement System raised its holdings in shares of Comerica Incorporated (NYSE:CMA) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,937 shares of the financial services provider’s stock after purchasing an additional 375 shares during the period. New York State Teachers Retirement System’s holdings in Comerica were worth $9,459,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CMA. Bleakley Financial Group LLC increased its stake in Comerica by 8.5% during the third quarter. Bleakley Financial Group LLC now owns 4,478 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 351 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Comerica during the third quarter valued at $36,000. Blue Trust Inc. increased its stake in Comerica by 34.2% during the third quarter. Blue Trust Inc. now owns 3,840 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 978 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Comerica during the third quarter worth about $216,000. Finally, Plan Group Financial LLC grew its position in shares of Comerica by 15.6% during the third quarter. Plan Group Financial LLC now owns 12,886 shares of the financial services provider’s stock worth $772,000 after acquiring an additional 1,739 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

CMA stock opened at $67.81 on Wednesday. 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 Incorporated has a one year low of $45.32 and a one year high of $73.45. The firm has a market capitalization of $8.92 billion, a PE ratio of 13.51 and a beta of 1.25. The firm has a 50-day moving average of $64.35 and a two-hundred day moving average of $62.54.

Comerica (NYSE:CMA) last posted 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 quarter in the previous year, the business earned $1.46 EPS. On average, analysts forecast that Comerica Incorporated will post 5.34 earnings per share for the current year.

Comerica announced that its board has approved a share repurchase plan on Tuesday, November 5th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

CMA has been the subject of several recent research reports. 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. Royal Bank of Canada lowered their price target 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. Truist Financial upgraded shares of Comerica to a “hold” rating in a research report on Monday, January 6th. Evercore ISI upped their price target on shares of Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Barclays increased 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. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Comerica has an average rating of “Hold” and an average 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.