Mirae Asset Global Investments Co. Ltd. Buys 15,178 Shares of Comerica Incorporated (NYSE:CMA)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Comerica Incorporated (NYSE:CMA) by 18.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,025 shares of the financial services provider’s stock after acquiring an additional 15,178 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Comerica were worth $5,931,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CMA. State Street Corp raised its stake in shares of Comerica by 2.0% during the 3rd quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock worth $301,745,000 after purchasing an additional 96,084 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Comerica by 31.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider’s stock valued at $144,312,000 after acquiring an additional 574,516 shares during the last quarter. Azora Capital LP grew its position in shares of 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 acquiring an additional 161,181 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 29,661 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays lifted their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. DA Davidson dropped their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods cut their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Evercore ISI upped their price objective on shares of Comerica from $64.00 to $69.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday, October 21st. 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, the company currently has an average rating of “Hold” and a consensus target price of $68.33.

Comerica Trading Down 0.5 %

Shares of CMA stock opened at $67.60 on Friday. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The stock’s fifty day simple moving average is $64.72 and its 200 day simple moving average is $61.72. 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 capitalization of $8.89 billion, a P/E ratio of 13.47 and a beta of 1.25.

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

Comerica declared that its board has initiated a stock repurchase program on Tuesday, November 5th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

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.