Oakworth Capital Inc. Grows Stock Holdings in Comerica Incorporated (NYSE:CMA)

Oakworth Capital Inc. grew its stake in Comerica Incorporated (NYSE:CMA) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,046 shares of the financial services provider’s stock after acquiring an additional 213 shares during the period. Comerica accounts for 1.0% of Oakworth Capital Inc.’s holdings, making the stock its 23rd biggest holding. Oakworth Capital Inc. owned about 0.18% of Comerica worth $14,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in Comerica in the third quarter worth approximately $36,000. Family Firm Inc. purchased a new stake in shares of Comerica in the 2nd quarter worth $37,000. UMB Bank n.a. grew 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 worth $38,000 after buying an additional 208 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC increased its stake in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after buying an additional 300 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Performance

NYSE CMA opened at $62.02 on Tuesday. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $66.06. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $8.22 billion, a P/E ratio of 12.33 and a beta of 1.23. The stock has a 50-day simple moving average of $57.96 and a two-hundred day simple moving average of $53.77.

Comerica (NYSE:CMA) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.17 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter in the prior year, the firm 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 news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Comerica from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company lifted their price objective on shares of Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a report on Monday. DA Davidson increased their target price on Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday. StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Evercore ISI lifted their price objective on shares of Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.19.

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.