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

Vaughan Nelson Investment Management L.P. cut its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,453,641 shares of the financial services provider's stock after selling 27,570 shares during the quarter. Comerica makes up approximately 1.4% of Vaughan Nelson Investment Management L.P.'s portfolio, making the stock its 20th largest holding. Vaughan Nelson Investment Management L.P. owned 1.87% of Comerica worth $144,912,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. V Square Quantitative Management LLC lifted its holdings in shares of Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after buying an additional 221 shares in the last quarter. Quarry LP lifted its holdings in shares of 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 in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings 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 lifted its holdings in shares of Comerica by 38.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider's stock worth $90,000 after buying an additional 407 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Comerica by 19.4% in the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock worth $105,000 after buying an additional 289 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Down 4.5%

Shares of CMA traded down $2.61 during trading hours on Friday, hitting $54.90. The company had a trading volume of 1,683,925 shares, compared to its average volume of 2,158,654. The firm has a fifty day moving average price of $55.51 and a 200-day moving average price of $60.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 10.94 and a beta of 0.92. Comerica Incorporated has a 52-week low of $45.86 and a 52-week high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the previous year, the firm earned $1.29 EPS. On average, equities research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio (DPR) is 53.69%.

Analysts Set New Price Targets

CMA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of Comerica from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $64.00 to $52.00 in a report on Tuesday, April 22nd. 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. Truist Financial raised their target price on shares of Comerica from $60.00 to $61.00 and gave the company a "hold" rating in a research note on Friday. Jefferies Financial Group assumed coverage on shares of Comerica in a research report on Wednesday, May 21st. They set an "underperform" rating and a $47.00 price target on the stock. Finally, Stephens cut shares of Comerica from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $66.00 to $64.00 in a research report on Monday, March 31st. 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 company. According to MarketBeat.com, Comerica presently has a consensus rating of "Hold" and a consensus target price of $61.95.

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.