Oakworth Capital Inc. Has $15.32 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

Oakworth Capital Inc. grew its position in Comerica Incorporated (NYSE:CMA) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 247,766 shares of the financial services provider’s stock after purchasing an additional 3,720 shares during the period. Comerica comprises about 1.1% of Oakworth Capital Inc.’s portfolio, making the stock its 22nd largest position. Oakworth Capital Inc.’s holdings in Comerica were worth $15,324,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CMA. Citigroup Inc. increased its position in shares of Comerica by 390.6% during the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock worth $45,628,000 after acquiring an additional 606,375 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Comerica by 31.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider’s stock worth $144,312,000 after acquiring an additional 574,516 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after acquiring an additional 490,468 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Comerica during the third quarter worth $26,630,000. Finally, Holocene Advisors LP bought a new stake in shares of Comerica during the third quarter worth $16,272,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Performance

NYSE CMA opened at $68.42 on Thursday. The firm has a 50-day moving average of $64.90 and a 200-day moving average of $61.56. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $9.00 billion, a PE ratio of 13.63 and a beta of 1.25. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the firm posted $1.46 earnings per share. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.36 EPS for the current year.

Comerica announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMA. Piper Sandler increased their price objective on shares of Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point raised their target price on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. DA Davidson decreased their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group downgraded shares of Comerica from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $71.00 in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $68.33.

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.