Vaughan Nelson Investment Management L.P. Buys 19,068 Shares of Comerica Incorporated (NYSE:CMA)

Vaughan Nelson Investment Management L.P. grew its position in shares of Comerica Incorporated (NYSE:CMA) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,834,304 shares of the financial services provider’s stock after buying an additional 19,068 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 1.38% of Comerica worth $93,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spire Wealth Management boosted its position in Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 235 shares during the last quarter. Versant Capital Management Inc increased its holdings in Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in Comerica by 50.2% in the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 300 shares during the period. Cullen Frost Bankers Inc. bought a new position in Comerica in the fourth quarter worth approximately $51,000. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of Comerica by 1,132.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,171 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 1,076 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their target price on Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a report on Wednesday, June 12th. Barclays decreased their price objective on Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada cut their price objective on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Keefe, Bruyette & Woods decreased their target price on shares of Comerica from $58.00 to $56.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Finally, StockNews.com lowered shares of Comerica from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $55.45.

Comerica Price Performance

Shares of CMA stock traded up $1.41 on Friday, reaching $56.22. The company’s stock had a trading volume of 1,292,481 shares, compared to its average volume of 2,237,989. The stock’s fifty day simple moving average is $51.48 and its 200-day simple moving average is $51.51. Comerica Incorporated has a 1 year low of $37.40 and a 1 year high of $58.50. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 11.18 and a beta of 1.25. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period last year, the company posted $2.01 EPS. Analysts forecast that Comerica Incorporated will post 5.05 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.05%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

About Comerica

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.