Luken Investment Analytics LLC Invests $31,000 in Comerica Incorporated (NYSE:CMA)

Luken Investment Analytics LLC purchased a new stake in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 500 shares of the financial services provider’s stock, valued at approximately $31,000.

Other institutional investors have also recently modified their holdings of the company. New England Research & Management Inc. bought a new stake in Comerica during the 4th quarter valued at $784,000. R Squared Ltd purchased a new stake in Comerica in the fourth quarter worth about $132,000. Pacer Advisors Inc. purchased a new position in shares of Comerica during the fourth quarter valued at approximately $1,184,000. KBC Group NV boosted its stake in Comerica by 45.9% in the 4th quarter. KBC Group NV now owns 5,772 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 1,817 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after buying an additional 200 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Price Performance

Shares of NYSE CMA opened at $67.49 on Friday. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The business’s 50 day moving average price is $65.28 and its 200 day moving average price is $61.19. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market cap of $8.88 billion, a P/E ratio of 13.44 and a beta of 1.26.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 period in the previous year, the firm earned $1.46 EPS. On average, sell-side analysts expect that Comerica Incorporated will post 5.35 earnings per share for the current year.

Comerica announced that its board has approved a share buyback plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were given a $0.71 dividend. The ex-dividend date was Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.21%. Comerica’s dividend payout ratio (DPR) is currently 56.57%.

Insider Transactions at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the transaction, the executive vice president now owns 8,730 shares in the company, valued at approximately $600,885.90. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Keefe, Bruyette & Woods reduced their target price on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Morgan Stanley lowered their target price on Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. DA Davidson decreased their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Evercore ISI lifted their target price on Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised shares of Comerica from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $51.00 to $73.00 in a report on Friday, November 15th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.33.

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.