Oakworth Capital Inc. Has $12.88 Million Position in Comerica Incorporated (NYSE:CMA)

Oakworth Capital Inc. grew its holdings in Comerica Incorporated (NYSE:CMA) by 49,978.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,863 shares of the financial services provider’s stock after purchasing an additional 230,402 shares during the quarter. Comerica comprises about 1.0% of Oakworth Capital Inc.’s portfolio, making the stock its 23rd biggest position. Oakworth Capital Inc. owned approximately 0.18% of Comerica worth $12,884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in Comerica by 1,192.2% during the 1st quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock worth $168,405,000 after purchasing an additional 3,578,355 shares in the last quarter. Norges Bank purchased a new position in shares of Comerica in the 4th quarter worth approximately $113,763,000. BlackRock Inc. boosted its stake in shares of Comerica by 9.4% in the 1st quarter. BlackRock Inc. now owns 13,313,998 shares of the financial services provider’s stock worth $578,094,000 after buying an additional 1,145,951 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Comerica by 129.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after buying an additional 1,088,330 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Comerica by 155.7% in the 4th quarter. Millennium Management LLC now owns 1,517,108 shares of the financial services provider’s stock worth $101,419,000 after buying an additional 923,864 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Insider Transactions at Comerica

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Comerica Trading Up 0.1 %

Shares of NYSE:CMA traded up $0.07 on Wednesday, reaching $50.10. 1,612,147 shares of the company traded hands, compared to its average volume of 2,090,930. The business’s 50-day simple moving average is $51.39 and its 200 day simple moving average is $49.13. Comerica Incorporated has a 52 week low of $28.40 and a 52 week high of $57.39. The stock has a market capitalization of $6.64 billion, a P/E ratio of 7.76 and a beta of 1.27. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03.

Comerica (NYSE:CMA) last posted its earnings results on Friday, January 19th. The financial services provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period in the prior year, the business posted $2.58 earnings per share. As a group, equities analysts anticipate that Comerica Incorporated will post 5.09 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.67%. Comerica’s dividend payout ratio is currently 44.10%.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Comerica from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Jefferies Financial Group dropped their price objective on Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. UBS Group reiterated a “neutral” rating and issued a $59.00 price objective (down previously from $66.00) on shares of Comerica in a research note on Thursday, April 4th. Evercore ISI increased their target price on Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group upgraded Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price on the stock in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $57.67.

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.