Vaughan Nelson Investment Management L.P. Has $131.24 Million Holdings in Comerica Incorporated $CMA

Key Points

• Vaughan Nelson Investment Management L.P. reduced its stake in Comerica Incorporated by 10.3%, currently holding about $131.24 million in shares at 1.67% of its portfolio.
• Comerica recently reported $1.42 earnings per share (EPS) for the quarter, surpassing estimates and generating revenue of $849 million.
• The company declared a quarterly dividend of $0.71 per share, translating to an annualized dividend of $2.84 with a yield of 4.0%.

Vaughan Nelson Investment Management L.P. lessened its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,200,132 shares of the financial services provider's stock after selling 253,509 shares during the quarter. Comerica makes up about 1.2% of Vaughan Nelson Investment Management L.P.'s investment portfolio, making the stock its 24th largest position. Vaughan Nelson Investment Management L.P. owned 1.67% of Comerica worth $131,238,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of Comerica during the 1st quarter worth approximately $33,000. Gen Wealth Partners Inc acquired a new stake in shares of Comerica during the 1st quarter worth approximately $34,000. Geneos Wealth Management Inc. grew its holdings in shares of Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after purchasing an additional 176 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Comerica in the 1st quarter valued at $55,000. Finally, MAI Capital Management boosted its stake in Comerica by 32.1% in the 1st quarter. MAI Capital Management now owns 942 shares of the financial services provider's stock valued at $56,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Trading Up 0.7%

Shares of CMA opened at $70.60 on Friday. The stock has a fifty day moving average price of $68.83 and a two-hundred day moving average price of $61.51. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $73.45. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 12.56 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.19. Comerica had a return on equity of 10.92% and a net margin of 14.92%.The firm had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. During the same quarter in the previous year, the company posted $1.49 EPS. Analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Comerica's dividend payout ratio is 54.41%.

Insider Buying and Selling at Comerica

In other news, insider James Mcgregor Carr sold 4,000 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the transaction, the insider owned 33,471 shares of the company's stock, valued at $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares in the company, valued at $631,690.72. This trade represents a 18.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CMA shares. Cowen started coverage on Comerica in a research note on Wednesday, September 24th. They issued a "hold" rating on the stock. Morgan Stanley boosted their price target on Comerica from $61.00 to $76.00 and gave the company an "underweight" rating in a research note on Monday. TD Cowen started coverage on Comerica in a research note on Thursday, September 25th. They issued a "hold" rating and a $75.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Finally, Raymond James Financial reaffirmed a "market perform" rating on shares of Comerica in a research note on Tuesday, July 8th. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $67.05.

About Comerica

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.

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