Oakworth Capital Inc. Acquires 230,402 Shares of Comerica Incorporated (NYSE:CMA)

Oakworth Capital Inc. grew its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 49,978.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 230,863 shares of the financial services provider's stock after acquiring an additional 230,402 shares during the period. Comerica comprises 1.0% of Oakworth Capital Inc.'s investment portfolio, making the stock its 23rd biggest position. Oakworth Capital Inc. owned approximately 0.18% of Comerica worth $12,884,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Private Advisor Group LLC increased its stake in shares of Comerica by 9.3% in the first quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider's stock worth $605,000 after purchasing an additional 568 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Comerica by 22.7% in the 1st quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider's stock valued at $3,216,000 after purchasing an additional 6,590 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Comerica by 6.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider's stock valued at $1,581,000 after purchasing an additional 1,024 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Comerica by 8.4% in the first quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider's stock worth $2,626,000 after purchasing an additional 2,163 shares during the period. Finally, Yousif Capital Management LLC raised its position in shares of Comerica by 119.2% in the first quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider's stock worth $693,000 after buying an additional 4,165 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CMA shares. TheStreet upgraded Comerica from a "c+" rating to a "b-" rating in a research report on Tuesday, December 26th. Raymond James downgraded shares of Comerica from an "outperform" rating to a "market perform" rating in a research note on Monday, January 22nd. Barclays boosted their price target on shares of Comerica from $49.00 to $59.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Comerica in a research report on Wednesday, April 10th. They set a "hold" rating and a $59.00 price objective on the stock. Finally, The Goldman Sachs Group upgraded shares of Comerica from a "neutral" rating to a "buy" rating and set a $70.50 target price for the company in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Comerica presently has an average rating of "Hold" and an average target price of $57.67.

Insider Buying and Selling

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

Comerica Stock Performance

Shares of Comerica stock traded down $0.21 on Wednesday, reaching $49.82. 2,390,529 shares of the stock were exchanged, compared to its average volume of 2,103,196. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. Comerica Incorporated has a twelve month low of $28.40 and a twelve month high of $57.39. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 7.76 and a beta of 1.27. The business has a 50 day moving average price of $51.39 and a two-hundred day moving average price of $49.13.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.08. Comerica had a return on equity of 19.41% and a net margin of 16.71%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $826.07 million. During the same quarter in the previous year, the company posted $2.58 earnings per share. Analysts anticipate that Comerica Incorporated will post 5.09 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date was Thursday, March 14th. Comerica's dividend payout ratio (DPR) is 44.10%.

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.