Vanguard Personalized Indexing Management LLC Trims Stock Holdings in Comerica Incorporated (NYSE:CMA)

Vanguard Personalized Indexing Management LLC reduced its stake in shares of Comerica Incorporated (NYSE:CMAFree Report) by 25.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,837 shares of the financial services provider’s stock after selling 7,626 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Comerica were worth $1,275,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Comerica by 1.5% during the fourth 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 purchasing an additional 48,526 shares in the last quarter. Invesco Ltd. raised its position in shares of Comerica by 4.4% during the 3rd quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider’s stock valued at $128,704,000 after purchasing an additional 130,997 shares during the period. North Reef Capital Management LP lifted its stake in shares of Comerica by 43.0% during the 3rd quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock valued at $119,664,000 after buying an additional 865,870 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 worth $145,444,000 after buying an additional 984,391 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Comerica by 129.3% in 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 buying an additional 1,088,330 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CMA. Truist Financial decreased their price target on Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada boosted their price target on Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Jefferies Financial Group cut their price objective on shares of Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 8th. Evercore ISI boosted their target price on shares of Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 target price on shares of Comerica in a research note on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus target price of $56.89.

Check Out Our Latest Stock Report on CMA

Comerica Stock Performance

Shares of Comerica stock opened at $54.83 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average price is $52.42 and its 200-day moving average price is $51.09. The firm has a market cap of $7.27 billion, a P/E ratio of 10.90 and a beta of 1.27. Comerica Incorporated has a 12 month low of $34.88 and a 12 month high of $57.39.

Comerica (NYSE:CMAGet Free Report) last posted its quarterly 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. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the business posted $2.39 EPS. On average, equities research analysts expect that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the business’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 transaction, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Comerica Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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