Comerica Incorporated (NYSE:CMA) Shares Purchased by Centennial Wealth Advisory LLC

Centennial Wealth Advisory LLC increased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,433 shares of the financial services provider’s stock after acquiring an additional 365 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Comerica were worth $336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after acquiring an additional 490,468 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Comerica by 158.2% during the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider’s stock worth $1,218,000 after acquiring an additional 12,454 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Comerica by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider’s stock worth $257,975,000 after acquiring an additional 226,285 shares during the last quarter. Citigroup Inc. boosted its holdings in Comerica by 390.6% in the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock valued at $45,628,000 after purchasing an additional 606,375 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Comerica in the 3rd quarter valued at about $1,905,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Price Performance

CMA stock opened at $68.42 on Thursday. The firm has a 50 day moving average of $64.90 and a 200-day moving average of $61.56. 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 $9.00 billion, a price-to-earnings ratio of 13.63 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (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 last year, the company earned $1.46 EPS. As a group, equities analysts expect that Comerica Incorporated will post 5.36 EPS for the current fiscal year.

Comerica declared that its Board of Directors has authorized a share buyback program on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CMA shares. Evercore ISI boosted their price target on shares of Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Piper Sandler boosted their price target on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Stephens boosted their price target on shares of Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $68.33.

About 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.