Vaughan Nelson Investment Management L.P. Sells 253,509 Shares of Comerica Incorporated $CMA

Vaughan Nelson Investment Management L.P. lessened its stake in Comerica Incorporated (NYSE:CMA) by 10.3% in the second quarter, HoldingsChannel reports. The firm owned 2,200,132 shares of the financial services provider’s stock after selling 253,509 shares during the period. Comerica accounts for about 1.2% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 24th biggest position. Vaughan Nelson Investment Management L.P.’s holdings in Comerica were worth $131,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp increased its holdings in Comerica by 11.2% in the first quarter. M&T Bank Corp now owns 13,215 shares of the financial services provider’s stock valued at $780,000 after purchasing an additional 1,326 shares during the last quarter. Baron Wealth Management LLC bought a new stake in Comerica in the second quarter valued at about $240,000. Rhino Investment Partners Inc increased its holdings in Comerica by 35.4% in the first quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock valued at $23,191,000 after purchasing an additional 102,647 shares during the last quarter. Bessemer Group Inc. increased its holdings in Comerica by 3.8% in the first quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 414 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its holdings in Comerica by 25.8% in the first quarter. Wolverine Asset Management LLC now owns 41,997 shares of the financial services provider’s stock valued at $2,480,000 after purchasing an additional 8,604 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Insider Activity at Comerica

In related news, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the transaction, the insider directly owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares of the company’s stock, valued at $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Comerica Stock Up 0.7%

CMA stock opened at $70.60 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $9.07 billion, a P/E ratio of 13.52, a P/E/G ratio of 12.56 and a beta of 0.96. The business has a 50-day moving average of $68.83 and a 200-day moving average of $61.51. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $73.45.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.19. The company had revenue of $849.00 million during the quarter, compared to analysts’ expectations of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%.During the same period in the prior year, the firm earned $1.49 earnings per share. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 4.0%. Comerica’s dividend payout ratio is 54.41%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price target for the company. DA Davidson set a $60.00 price target on Comerica and gave the stock a “neutral” rating in a report on Monday, July 21st. Evercore ISI lowered their price target on Comerica from $71.00 to $70.00 and set an “underperform” rating for the company in a report on Tuesday. Cowen assumed coverage on Comerica in a report on Wednesday, September 24th. They issued a “hold” rating for the company. Finally, Citigroup increased their price target on Comerica from $54.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.05.

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.