OLD National Bancorp IN Sells 10,214 Shares of Comerica Incorporated (NYSE:CMA)

OLD National Bancorp IN decreased its position in shares of Comerica Incorporated (NYSE:CMA) by 4.7% in the 4th quarter, Holdings Channel reports. The fund owned 207,062 shares of the financial services provider’s stock after selling 10,214 shares during the quarter. OLD National Bancorp IN’s holdings in Comerica were worth $11,556,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CMA. Chilton Capital Management LLC bought a new position in Comerica in the 1st quarter worth about $28,000. Fortitude Family Office LLC bought a new position in Comerica in the 4th quarter worth about $36,000. Turtle Creek Wealth Advisors LLC bought a new position in Comerica in the 4th quarter worth about $36,000. Almanack Investment Partners LLC. bought a new position in Comerica in the 3rd quarter worth about $38,000. Finally, Authentikos Wealth Advisory LLC bought a new position in Comerica in the 3rd quarter worth about $47,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CMA. Bank Of America (Bofa) raised their target price on Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. DA Davidson restated a “neutral” rating and issued a $56.00 target price on shares of Comerica in a research note on Wednesday, March 6th. Barclays raised their price target on Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Morgan Stanley raised their price target on Comerica from $45.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods lowered their price target on Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.02.

Insiders Place Their Bets

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

Comerica Trading Up 1.8 %

Comerica stock traded up $0.90 during trading hours on Friday, reaching $51.56. The company had a trading volume of 2,364,256 shares, compared to its average volume of 1,627,854. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The company has a 50-day moving average price of $51.38 and a 200 day moving average price of $49.30. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 10.25 and a beta of 1.27. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $57.39.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the previous year, the firm earned $2.39 EPS. Equities analysts forecast that Comerica Incorporated will post 5.09 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.71 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.51%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Comerica Company 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.