Vaughan Nelson Investment Management L.P. lifted its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,481,211 shares of the financial services provider's stock after acquiring an additional 72,391 shares during the period. Comerica accounts for 1.4% of Vaughan Nelson Investment Management L.P.'s portfolio, making the stock its 20th largest position. Vaughan Nelson Investment Management L.P. owned 1.89% of Comerica worth $153,462,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. Trust Co. of Vermont grew its stake in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after acquiring an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in Comerica in the 4th quarter worth approximately $31,000. V Square Quantitative Management LLC purchased a new stake in Comerica during the 3rd quarter worth approximately $36,000. MCF Advisors LLC increased its stake in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 228 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Comerica in the third quarter worth $42,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Argus upgraded Comerica to a "hold" rating in a research note on Friday, January 31st. StockNews.com raised shares of Comerica from a "sell" rating to a "hold" rating in a report on Monday, October 21st. Barclays raised their target price on shares of Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of Comerica from $73.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Truist Financial raised Comerica to a "hold" rating in a research report on Monday, January 6th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $68.57.
View Our Latest Research Report on CMA
Comerica Price Performance
Shares of NYSE:CMA traded down $0.20 during midday trading on Wednesday, hitting $66.87. The company had a trading volume of 1,909,216 shares, compared to its average volume of 2,221,476. The business's 50-day simple moving average is $64.47 and its 200-day simple moving average is $62.08. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 13.32 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45.
Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period in the previous year, the business posted $1.46 EPS. On average, research analysts predict that Comerica Incorporated will post 5.34 earnings per share for the current year.
Comerica declared that its board has approved a share repurchase plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.
Comerica Company 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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