Comerica Incorporated (NYSE:CMA) Holdings Decreased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its position in Comerica Incorporated (NYSE:CMA) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,071 shares of the financial services provider’s stock after selling 2,654 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.05% of Comerica worth $3,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. grew its stake in Comerica by 129.3% during 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 during the last quarter. North Reef Capital Management LP grew its stake in 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 worth $119,664,000 after buying an additional 865,870 shares during the last quarter. rhino investment partners Inc grew its stake in Comerica by 684.2% during the 3rd quarter. rhino investment partners Inc now owns 744,956 shares of the financial services provider’s stock worth $30,953,000 after buying an additional 649,956 shares during the last quarter. Artemis Investment Management LLP bought a new position in Comerica during the 4th quarter worth $31,018,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in Comerica by 46.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,462,906 shares of the financial services provider’s stock worth $60,784,000 after buying an additional 461,741 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a research note on Wednesday, April 10th. They issued a “hold” rating and a $59.00 price target for the company. Argus cut Comerica from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Truist Financial cut their price objective on Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada upped their target price on Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, The Goldman Sachs Group raised Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price for the company in a report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Comerica currently has a consensus rating of “Hold” and a consensus target price of $56.89.

Comerica Price Performance

Shares of CMA stock opened at $52.95 on Thursday. The stock has a 50 day moving average of $51.49 and a two-hundred day moving average of $49.56. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39. The company has a market capitalization of $7.02 billion, a P/E ratio of 10.53 and a beta of 1.27.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same quarter last year, the company earned $2.39 EPS. As a group, equities analysts expect that Comerica Incorporated will post 5.15 EPS for the current year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.36%. 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.