Vanguard Group Inc. Sells 416,168 Shares of Comerica Incorporated $CMA

Vanguard Group Inc. reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,765,662 shares of the financial services provider’s stock after selling 416,168 shares during the quarter. Vanguard Group Inc. owned 0.10% of Comerica worth $874,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMA. Bank of New York Mellon Corp increased its holdings in shares of Comerica by 466.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock worth $499,615,000 after purchasing an additional 6,003,703 shares during the period. Charles Schwab Investment Management Inc. grew its position in Comerica by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,741,310 shares of the financial services provider’s stock worth $282,819,000 after buying an additional 77,869 shares in the last quarter. Primecap Management Co. CA increased its stake in Comerica by 55.3% during the second quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock valued at $154,720,000 after acquiring an additional 923,690 shares during the period. Geode Capital Management LLC raised its holdings in Comerica by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,579,763 shares of the financial services provider’s stock valued at $153,905,000 after acquiring an additional 73,971 shares in the last quarter. Finally, Azora Capital LP lifted its position in shares of Comerica by 8.7% in the 2nd quarter. Azora Capital LP now owns 2,063,920 shares of the financial services provider’s stock worth $123,113,000 after acquiring an additional 164,722 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Allysun C. Fleming sold 8,864 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $94.47, for a total transaction of $837,382.08. Following the completion of the sale, the executive vice president directly owned 4,785 shares of the company’s stock, valued at $452,038.95. This trade represents a 64.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Harry Weber sold 8,798 shares of Comerica stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $98.04, for a total value of $862,555.92. Following the completion of the transaction, the executive vice president owned 20,543 shares of the company’s stock, valued at approximately $2,014,035.72. The trade was a 29.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,662 shares of company stock worth $2,680,538 in the last three months. Insiders own 1.10% of the company’s stock.

Comerica Trading Down 2.0%

Shares of Comerica stock opened at $90.98 on Monday. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $99.41. The stock has a market capitalization of $11.63 billion, a P/E ratio of 17.20 and a beta of 1.04. The company has a 50-day simple moving average of $90.75 and a 200 day simple moving average of $80.30. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.74.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.18. The firm had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $851.32 million. Comerica had a net margin of 15.07% and a return on equity of 10.74%. During the same period in the prior year, the firm earned $1.20 earnings per share. Research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group upgraded Comerica from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Tuesday, January 6th. Evercore set a $89.00 price objective on shares of Comerica in a research note on Tuesday, January 6th. Citigroup raised their price objective on shares of Comerica from $82.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, December 30th. TD Cowen reissued a “hold” rating on shares of Comerica in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Comerica in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.56.

About Comerica

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.