OLD National Bancorp IN Cuts Holdings in Comerica Incorporated (NYSE:CMA)

OLD National Bancorp IN trimmed its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,419 shares of the financial services provider's stock after selling 10,053 shares during the period. OLD National Bancorp IN owned approximately 0.16% of Comerica worth $12,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock worth $672,000 after purchasing an additional 211 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after acquiring an additional 221 shares during the period. US Bancorp DE raised its position in shares of Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock worth $731,000 after buying an additional 227 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Comerica by 4.6% during the fourth quarter. Townsquare Capital LLC now owns 5,811 shares of the financial services provider's stock worth $359,000 after purchasing an additional 256 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in shares of Comerica by 2.2% in the 4th quarter. Savant Capital LLC now owns 13,037 shares of the financial services provider's stock worth $806,000 after buying an additional 277 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CMA shares. Jefferies Financial Group started coverage on Comerica in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $47.00 target price for the company. Robert W. Baird reduced their target price on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods decreased their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Stephens lowered shares of Comerica from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Finally, Evercore ISI cut Comerica from an "in-line" rating to an "underperform" rating and reduced their price objective for the company from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $61.74.

Comerica Stock Down 1.5%

NYSE:CMA traded down $0.89 during mid-day trading on Wednesday, hitting $58.02. 1,705,179 shares of the company's stock were exchanged, compared to its average volume of 2,174,291. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The business has a fifty day moving average price of $55.16 and a 200 day moving average price of $60.79. The company has a market cap of $7.62 billion, a PE ratio of 11.56 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The company had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. During the same quarter in the prior year, the business posted $1.29 EPS. Equities analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.89%. Comerica's payout ratio is presently 53.69%.

About Comerica

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.