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

Oakworth Capital Inc. boosted its position in shares of Comerica Incorporated (NYSE:CMA) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,766 shares of the financial services provider’s stock after acquiring an additional 3,720 shares during the period. Comerica accounts for 1.1% of Oakworth Capital Inc.’s investment portfolio, making the stock its 22nd biggest holding. Oakworth Capital Inc. owned approximately 0.19% of Comerica worth $15,324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Centennial Wealth Advisory LLC lifted its position in Comerica by 7.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 5,433 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 365 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Comerica by 18.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,025 shares of the financial services provider’s stock valued at $5,931,000 after buying an additional 15,178 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of Comerica by 52.7% during the fourth quarter. Yousif Capital Management LLC now owns 11,355 shares of the financial services provider’s stock valued at $702,000 after buying an additional 3,918 shares during the last quarter. Retirement Systems of Alabama acquired a new position in shares of Comerica during the fourth quarter valued at about $9,890,000. Finally, Boston Trust Walden Corp acquired a new position in shares of Comerica during the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMA. Royal Bank of Canada cut their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Stephens upped their price objective on shares of Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company raised shares of Comerica from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $51.00 to $73.00 in a research report on Friday, November 15th. Barclays upped their target price on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Finally, Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus price target of $68.33.

Comerica Price Performance

Shares of CMA stock opened at $68.42 on Thursday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The firm’s 50 day moving average is $64.90 and its 200-day moving average is $61.56. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 13.63 and a beta of 1.25. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business earned $1.46 EPS. Sell-side analysts forecast that Comerica Incorporated will post 5.36 EPS for the current fiscal year.

Comerica declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.