Louisiana State Employees Retirement System Sells 27,600 Shares of Comerica Incorporated (NYSE:CMA)

Louisiana State Employees Retirement System decreased its holdings in Comerica Incorporated (NYSE:CMA) by 43.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,500 shares of the financial services provider’s stock after selling 27,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Comerica were worth $2,258,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp lifted its position in Comerica by 2.0% in the 3rd quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock valued at $301,745,000 after acquiring an additional 96,084 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Comerica by 3.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock valued at $153,462,000 after buying an additional 72,391 shares during the last quarter. Azora Capital LP increased its stake in Comerica by 7.8% in the 3rd quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider’s stock valued at $133,621,000 after buying an additional 161,181 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Comerica by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock valued at $126,555,000 after buying an additional 29,661 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 0.5 %

Shares of NYSE:CMA opened at $67.13 on Friday. The firm has a fifty day moving average price of $64.36 and a two-hundred day moving average price of $62.21. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 13.37 and a beta of 1.25.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate 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 prior year, the company earned $1.46 earnings per share. Analysts anticipate that Comerica Incorporated will post 5.34 EPS for the current fiscal year.

Comerica announced that its board has initiated a share 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 purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on CMA. Barclays increased their price objective on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Piper Sandler increased their price objective 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. DA Davidson decreased their price objective on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Argus upgraded shares of Comerica to a “hold” rating in a research note on Friday, January 31st. 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’s stock. According to data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and a consensus price target of $68.57.

Comerica 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.