Comerica Incorporated (NYSE:CMA) Shares Purchased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. grew its holdings in shares of Comerica Incorporated (NYSE:CMA) by 3.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,481,211 shares of the financial services provider’s stock after buying an additional 72,391 shares during the period. Comerica makes up about 1.4% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 20th largest holding. Vaughan Nelson Investment Management L.P.’s holdings in Comerica were worth $153,462,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CMA. Truist Financial Corp acquired a new position in shares of Comerica during the second quarter valued at approximately $318,000. Sanctuary Advisors LLC bought a new stake in shares of Comerica in the 2nd quarter worth $449,000. Atomi Financial Group Inc. acquired a new stake in shares of Comerica in the third quarter valued at $218,000. Wedmont Private Capital boosted its stake in Comerica by 11.3% during the third quarter. Wedmont Private Capital now owns 7,684 shares of the financial services provider’s stock valued at $448,000 after buying an additional 778 shares in the last quarter. Finally, Fiduciary Alliance LLC acquired a new position in Comerica during the third quarter worth about $506,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Robert W. Baird cut their price target on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. Keefe, Bruyette & Woods cut their price objective on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Barclays lifted their target price on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.33.

Comerica Price Performance

CMA opened at $67.60 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The stock has a fifty day moving average price of $64.72 and a 200 day moving average price of $61.78. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 13.47 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its 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 quarter in the prior year, the company earned $1.46 earnings per share. Analysts forecast that Comerica Incorporated will post 5.34 EPS for the current fiscal year.

Comerica declared that its board has authorized a stock buyback plan on Tuesday, November 5th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.