OLD National Bancorp IN Sells 19,326 Shares of Comerica Incorporated (NYSE:CMA)

OLD National Bancorp IN trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,472 shares of the financial services provider's stock after selling 19,326 shares during the period. OLD National Bancorp IN owned about 0.17% of Comerica worth $13,822,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Trust Co. of Vermont boosted its position in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 321 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Comerica during the 3rd quarter worth approximately $36,000. MCF Advisors LLC boosted its holdings in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after buying an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Comerica in the third quarter valued at $42,000. Finally, UMB Bank n.a. increased its holdings in Comerica by 74.2% during the fourth quarter. UMB Bank n.a. now owns 1,488 shares of the financial services provider's stock worth $92,000 after buying an additional 634 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Comerica Stock Down 1.9 %

Shares of Comerica stock traded down $1.29 during trading on Monday, reaching $66.03. 1,275,701 shares of the company traded hands, compared to its average volume of 2,111,857. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50 day moving average price of $65.21 and a 200-day moving average price of $61.32. The firm has a market capitalization of $8.68 billion, a PE ratio of 13.15 and a beta of 1.25. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results 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 net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the prior year, the firm posted $1.46 earnings per share. As a group, equities research analysts expect that Comerica Incorporated will post 5.36 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, December 13th. Comerica's dividend payout ratio is currently 56.57%.

Comerica declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CMA shares. Piper Sandler upped their target price on shares of Comerica from $64.00 to $72.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods dropped their price target on Comerica from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. Truist Financial raised shares of Comerica to a "hold" rating in a research report on Monday, January 6th. Royal Bank of Canada dropped their price objective on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Finally, Compass Point increased their price target on shares of Comerica from $64.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $68.33.

Insider Transactions at Comerica

In other news, EVP Allysun C. Fleming sold 1,392 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares of the company's stock, valued at $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

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.