Comerica Incorporated $CMA Shares Acquired by Oakworth Capital Inc.

Oakworth Capital Inc. lifted its stake in Comerica Incorporated (NYSE:CMA) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,624 shares of the financial services provider’s stock after buying an additional 1,915 shares during the period. Comerica makes up 1.0% of Oakworth Capital Inc.’s investment portfolio, making the stock its 25th largest holding. Oakworth Capital Inc. owned about 0.19% of Comerica worth $15,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. M&T Bank Corp increased its position in shares of Comerica by 11.2% during the first quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider’s stock worth $780,000 after purchasing an additional 1,326 shares in the last quarter. Rhino Investment Partners Inc increased its position in Comerica by 35.4% during the first quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock worth $23,191,000 after buying an additional 102,647 shares during the period. Baron Wealth Management LLC acquired a new position in Comerica during the second quarter worth approximately $240,000. Bessemer Group Inc. lifted its stake in Comerica by 3.8% in the first quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider’s stock valued at $666,000 after buying an additional 414 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its position in shares of Comerica by 25.8% during the first quarter. Wolverine Asset Management LLC now owns 41,997 shares of the financial services provider’s stock worth $2,480,000 after acquiring an additional 8,604 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Comerica

In other news, insider James Mcgregor Carr sold 4,000 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the sale, the insider owned 33,471 shares of the company’s stock, valued at $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the sale, the executive vice president owned 9,424 shares in the company, valued at approximately $631,690.72. The trade was a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Comerica Price Performance

CMA opened at $69.40 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $73.45. The company has a 50 day moving average of $68.49 and a two-hundred day moving average of $61.16. The company has a market cap of $8.92 billion, a P/E ratio of 13.29, a P/E/G ratio of 12.48 and a beta of 0.97.

Comerica (NYSE:CMA) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million for the quarter, compared to the consensus estimate of $844.39 million. Comerica had a net margin of 14.92% and a return on equity of 10.92%. During the same quarter last year, the firm posted $1.49 EPS. On average, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, September 15th. Comerica’s payout ratio is currently 54.41%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CMA. DA Davidson set a $60.00 target price on shares of Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. Citigroup raised their price objective on shares of Comerica from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Piper Sandler upped their target price on shares of Comerica from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Stephens reiterated an “equal weight” rating on shares of Comerica in a research note on Monday, July 21st. Finally, Keefe, Bruyette & Woods boosted their price target on Comerica from $69.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Comerica has a consensus rating of “Reduce” and a consensus price target of $65.10.

Comerica Company 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.