Vaughan Nelson Investment Management L.P. Has $144.91 Million Stock Position in Comerica Incorporated (NYSE:CMA)

Vaughan Nelson Investment Management L.P. trimmed its stake in shares of Comerica Incorporated (NYSE:CMA) by 1.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 2,453,641 shares of the financial services provider’s stock after selling 27,570 shares during the quarter. Comerica comprises about 1.4% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 20th biggest holding. Vaughan Nelson Investment Management L.P.’s holdings in Comerica were worth $144,912,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

CMA has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Stephens downgraded Comerica from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $66.00 to $64.00 in a research note on Monday, March 31st. Truist Financial increased their price objective on Comerica from $60.00 to $61.00 and gave the company a “hold” rating in a report on Friday. The Goldman Sachs Group lowered their target price on shares of Comerica from $66.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Comerica currently has an average rating of “Hold” and an average target price of $61.95.

Comerica Stock Performance

Shares of Comerica stock opened at $54.90 on Friday. The company has a market capitalization of $7.21 billion, a PE ratio of 10.94 and a beta of 0.92. The company has a 50-day simple moving average of $55.51 and a two-hundred day simple moving average of $60.47. Comerica Incorporated has a one year low of $45.86 and a one year high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. The company had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the business posted $1.29 earnings per share. Research analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.17%. The ex-dividend date is Friday, June 13th. Comerica’s dividend payout ratio (DPR) is currently 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.