OLD National Bancorp IN Sells 7,725 Shares of Comerica Incorporated $CMA

OLD National Bancorp IN cut its position in shares of Comerica Incorporated (NYSE:CMA) by 18.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 35,046 shares of the financial services provider’s stock after selling 7,725 shares during the period. OLD National Bancorp IN’s holdings in Comerica were worth $2,401,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lynx Investment Advisory lifted its position in Comerica by 3.3% in the 2nd quarter. Lynx Investment Advisory now owns 5,135 shares of the financial services provider’s stock worth $306,000 after buying an additional 163 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 176 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Comerica by 19.6% in the 2nd quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 189 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Comerica by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 37,000 shares of the financial services provider’s stock worth $2,207,000 after acquiring an additional 200 shares during the last quarter. Finally, MAI Capital Management boosted its stake in shares of Comerica by 21.7% in the 2nd quarter. MAI Capital Management now owns 1,146 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 204 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of analyst reports. Morgan Stanley upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price on the stock in a research report on Tuesday, October 7th. Cantor Fitzgerald assumed coverage on Comerica in a research note on Wednesday, September 10th. They set a “neutral” rating and a $72.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Piper Sandler set a $82.00 target price on Comerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Truist Financial raised their price target on Comerica from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Two analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $74.26.

Comerica Stock Performance

Shares of NYSE:CMA opened at $88.47 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $80.61 and a 200-day moving average price of $71.51. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 16.88 and a beta of 1.07. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $90.44.

Comerica (NYSE:CMA) last posted its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. The company had revenue of $824.00 million for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%. As a group, equities analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. Comerica’s payout ratio is 54.20%.

Comerica Company Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.