First Dallas Securities Inc. Lowers Stock Holdings in Comerica Incorporated (NYSE:CMA)

First Dallas Securities Inc. reduced its position in shares of Comerica Incorporated (NYSE:CMA) by 41.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,815 shares of the financial services provider’s stock after selling 5,460 shares during the period. First Dallas Securities Inc.’s holdings in Comerica were worth $430,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Comerica by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after purchasing an additional 676,959 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Comerica by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock valued at $186,580,000 after buying an additional 48,526 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Comerica by 60.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock valued at $145,444,000 after buying an additional 984,391 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Comerica by 51.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after acquiring an additional 870,812 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Comerica by 129.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after acquiring an additional 1,088,330 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Activity

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 7,236 shares in the company, valued at $380,541.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Comerica Stock Performance

Shares of CMA traded up $3.20 during mid-day trading on Friday, hitting $51.04. 5,091,791 shares of the company’s stock were exchanged, compared to its average volume of 3,388,145. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $57.39. The business’s 50 day moving average is $50.67 and its two-hundred day moving average is $51.98. The firm has a market capitalization of $6.77 billion, a P/E ratio of 10.15 and a beta of 1.25.

Comerica (NYSE:CMA) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same period last year, the business posted $2.39 EPS. On average, equities analysts expect that Comerica Incorporated will post 5.08 earnings per share for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.56%. The ex-dividend date is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CMA. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $58.00 price objective on shares of Comerica in a research report on Tuesday, June 11th. Jefferies Financial Group decreased their price objective on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Piper Sandler lifted their target price on shares of Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, April 26th. DA Davidson restated a “neutral” rating and set a $56.00 price target on shares of Comerica in a research report on Wednesday, March 6th. Finally, Truist Financial dropped their price objective on shares of Comerica from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.13.

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.