Comerica Incorporated (NYSE:CMA) Holdings Trimmed by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. trimmed its position in shares of Comerica Incorporated (NYSE:CMA) by 5.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,815,236 shares of the financial services provider’s stock after selling 114,809 shares during the period. Comerica accounts for 0.9% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 27th biggest holding. Vaughan Nelson Investment Management L.P. owned 1.37% of Comerica worth $99,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMA. Lloyd Advisory Services LLC. boosted its stake in shares of Comerica by 293.0% during the 1st quarter. Lloyd Advisory Services LLC. now owns 30,795 shares of the financial services provider’s stock valued at $1,693,000 after buying an additional 22,960 shares during the period. Contravisory Investment Management Inc. acquired a new stake in shares of Comerica during the 1st quarter valued at $497,000. Wedmont Private Capital boosted its stake in shares of Comerica by 11.5% during the 1st quarter. Wedmont Private Capital now owns 7,084 shares of the financial services provider’s stock valued at $386,000 after buying an additional 730 shares during the period. GAMMA Investing LLC boosted its stake in shares of Comerica by 7.6% during the 1st quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock valued at $178,000 after buying an additional 230 shares during the period. Finally, CWM LLC boosted its stake in shares of Comerica by 4.0% during the 1st quarter. CWM LLC now owns 17,044 shares of the financial services provider’s stock valued at $937,000 after buying an additional 653 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Tuesday. Evercore ISI reduced their price objective on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. UBS Group reduced their price objective on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Jefferies Financial Group reduced their price objective on shares of Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Comerica in a research note on Wednesday, April 10th. They issued a “hold” rating and a $59.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.04.

Comerica Trading Up 0.9 %

NYSE CMA traded up $0.46 during trading hours on Tuesday, hitting $51.26. The company’s stock had a trading volume of 110,477 shares, compared to its average volume of 2,226,090. The stock has a fifty day moving average of $50.64 and a 200 day moving average of $51.95. Comerica Incorporated has a twelve month low of $37.40 and a twelve month high of $57.39. The firm has a market capitalization of $6.80 billion, a P/E ratio of 10.10 and a beta of 1.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the prior year, the firm earned $2.39 earnings per share. Equities research analysts forecast that Comerica Incorporated will post 5.08 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.54%. The ex-dividend date was Friday, June 14th. Comerica’s payout ratio is presently 56.46%.

Insider Buying and Selling at Comerica

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

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.