Vaughan Nelson Investment Management L.P. Cuts Stock Position in Comerica Incorporated (NYSE:CMA)

Vaughan Nelson Investment Management L.P. reduced its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,453,641 shares of the financial services provider's stock after selling 27,570 shares during the period. Comerica accounts for about 1.4% of Vaughan Nelson Investment Management L.P.'s investment portfolio, making the stock its 20th largest holding. Vaughan Nelson Investment Management L.P. owned about 1.87% of Comerica worth $144,912,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. V Square Quantitative Management LLC boosted its stake in Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after purchasing an additional 221 shares in the last quarter. Quarry LP raised its holdings in Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after buying an additional 523 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Comerica by 64.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider's stock worth $84,000 after buying an additional 533 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of Comerica by 38.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider's stock valued at $90,000 after buying an additional 407 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Comerica by 19.4% during the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after acquiring an additional 289 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CMA shares. Truist Financial set a $61.00 price objective on Comerica and gave the company a "hold" rating in a research report on Friday, June 13th. Jefferies Financial Group assumed coverage on Comerica in a report on Wednesday, May 21st. They set an "underperform" rating and a $47.00 price target on the stock. Stephens cut Comerica from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $66.00 to $64.00 in a research report on Monday, March 31st. UBS Group raised Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $61.95.

Comerica Stock Performance

Comerica stock traded up $0.78 during trading on Wednesday, reaching $55.78. The company had a trading volume of 587,112 shares, compared to its average volume of 2,147,248. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 10.54 and a beta of 0.92. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.86. The firm's 50-day simple moving average is $55.61 and its 200 day simple moving average is $60.23. Comerica Incorporated has a 52 week low of $46.61 and a 52 week high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 11.59% and a net margin of 14.89%. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. During the same quarter in the prior year, the business posted $1.29 earnings per share. Sell-side analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date is Friday, June 13th. Comerica's payout ratio is 53.69%.

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.