Oakworth Capital Inc. Raises Stock Position in Comerica Incorporated (NYSE:CMA)

Oakworth Capital Inc. grew its stake in Comerica Incorporated (NYSE:CMA) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,046 shares of the financial services provider’s stock after purchasing an additional 213 shares during the quarter. Comerica makes up 1.0% of Oakworth Capital Inc.’s holdings, making the stock its 23rd biggest position. Oakworth Capital Inc.’s holdings in Comerica were worth $14,621,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Comerica by 105.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after buying an additional 3,595,036 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Comerica by 51.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after purchasing an additional 1,370,886 shares in the last quarter. Samlyn Capital LLC acquired a new position in Comerica in the 2nd quarter valued at $35,375,000. Principal Financial Group Inc. boosted its stake in Comerica by 311.2% during the 2nd quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider’s stock worth $33,845,000 after purchasing an additional 501,857 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Comerica by 183.5% in the second quarter. Hsbc Holdings PLC now owns 548,786 shares of the financial services provider’s stock valued at $27,608,000 after buying an additional 355,229 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMA. Truist Financial boosted their price target on shares of Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday. Stephens boosted their target price on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company upped their price target on Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday. Piper Sandler boosted their price objective on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada cut their target price on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.19.

Comerica Trading Down 4.5 %

Shares of NYSE CMA opened at $62.02 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $8.22 billion, a PE ratio of 12.33 and a beta of 1.23. Comerica Incorporated has a twelve month low of $37.40 and a twelve month high of $66.06. The stock has a fifty day simple moving average of $57.96 and a 200-day simple moving average of $53.77.

Comerica (NYSE:CMA) last released its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the previous year, the company posted $1.84 EPS. On average, equities analysts forecast that Comerica Incorporated will post 5.12 earnings per share for the current year.

Insider Activity at Comerica

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

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.