V Square Quantitative Management LLC Makes New $36,000 Investment in Comerica Incorporated (NYSE:CMA)

V Square Quantitative Management LLC bought a new position in Comerica Incorporated (NYSE:CMA) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 603 shares of the financial services provider’s stock, valued at approximately $36,000.

Other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. bought a new position in shares of Comerica during the 2nd quarter valued at about $37,000. UMB Bank n.a. increased its position in shares of Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 208 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in shares of Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the last quarter. Finally, Summit Securities Group LLC increased its position in shares of Comerica by 22.4% during the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 202 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CMA. Evercore ISI raised their price target on Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Barclays raised their price target on Comerica from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday. Truist Financial raised their price target on Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday. Finally, The Goldman Sachs Group raised their price target on Comerica from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.19.

Insider Activity at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Comerica Trading Down 4.5 %

CMA opened at $62.02 on Tuesday. The stock has a market cap of $8.22 billion, a PE ratio of 12.33 and a beta of 1.23. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average of $57.96 and a 200-day moving average of $53.77. Comerica Incorporated has a 52 week low of $37.40 and a 52 week high of $66.06.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same quarter last year, the company earned $1.84 EPS. Equities research analysts predict that Comerica Incorporated will post 5.12 earnings per share for the current fiscal year.

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.