Oakworth Capital Inc. Purchases 6,935 Shares of Comerica Incorporated $CMA

Oakworth Capital Inc. grew its position in Comerica Incorporated (NYSE:CMA) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,559 shares of the financial services provider’s stock after purchasing an additional 6,935 shares during the quarter. Comerica makes up about 1.0% of Oakworth Capital Inc.’s investment portfolio, making the stock its 26th largest holding. Oakworth Capital Inc. owned approximately 0.20% of Comerica worth $17,785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in Comerica by 466.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock worth $499,615,000 after buying an additional 6,003,703 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Comerica by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,741,310 shares of the financial services provider’s stock valued at $282,819,000 after acquiring an additional 77,869 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Comerica by 55.3% in the second quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock worth $154,720,000 after acquiring an additional 923,690 shares during the period. Geode Capital Management LLC grew its position in shares of Comerica by 3.0% during the second quarter. Geode Capital Management LLC now owns 2,579,763 shares of the financial services provider’s stock worth $153,905,000 after purchasing an additional 73,971 shares in the last quarter. Finally, Azora Capital LP raised its stake in Comerica by 8.7% during the 2nd quarter. Azora Capital LP now owns 2,063,920 shares of the financial services provider’s stock valued at $123,113,000 after purchasing an additional 164,722 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CMA. UBS Group upgraded Comerica from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research note on Tuesday, January 6th. TD Cowen restated a “hold” rating on shares of Comerica in a research report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Comerica in a research note on Wednesday, January 21st. Morgan Stanley raised Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price on the stock in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $93.00 price target (up from $73.00) on shares of Comerica in a report on Friday, October 10th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Comerica has a consensus rating of “Hold” and an average price target of $79.56.

Insider Buying and Selling

In related news, insider James Mcgregor Carr sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $98.06, for a total value of $980,600.00. Following the completion of the transaction, the insider owned 23,959 shares of the company’s stock, valued at $2,349,419.54. The trade was a 29.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Allysun C. Fleming sold 8,864 shares of Comerica stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $94.47, for a total value of $837,382.08. Following the completion of the transaction, the executive vice president owned 4,785 shares in the company, valued at $452,038.95. This represents a 64.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,662 shares of company stock valued at $2,680,538 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Comerica Stock Performance

Shares of Comerica stock opened at $91.26 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average price is $88.40 and its 200-day moving average price is $77.62. The firm has a market cap of $11.66 billion, a P/E ratio of 17.25 and a beta of 1.03. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $99.41.

Comerica (NYSE:CMA) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.18. The company had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $851.32 million. Comerica had a net margin of 15.07% and a return on equity of 10.74%. During the same period in the prior year, the business earned $1.20 EPS. On average, equities research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Investors of record on Monday, December 15th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, December 15th. Comerica’s dividend payout ratio (DPR) is presently 53.69%.

Comerica Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.