Brandywine Global Investment Management LLC Sells 37,293 Shares of Comerica Incorporated $CMA

Brandywine Global Investment Management LLC reduced its stake in shares of Comerica Incorporated (NYSE:CMA) by 43.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,465 shares of the financial services provider’s stock after selling 37,293 shares during the period. Brandywine Global Investment Management LLC’s holdings in Comerica were worth $2,891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Baron Wealth Management LLC bought a new position in shares of Comerica in the 2nd quarter valued at approximately $240,000. Rhino Investment Partners Inc raised its position in shares of Comerica by 35.4% in the first quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock valued at $23,191,000 after purchasing an additional 102,647 shares during the period. Wolverine Asset Management LLC lifted its stake in shares of Comerica by 25.8% in the first quarter. Wolverine Asset Management LLC now owns 41,997 shares of the financial services provider’s stock worth $2,480,000 after buying an additional 8,604 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Comerica by 13.1% in the first quarter. HighTower Advisors LLC now owns 48,407 shares of the financial services provider’s stock worth $2,859,000 after buying an additional 5,596 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Comerica by 9.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock worth $137,107,000 after buying an additional 203,333 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CMA shares. Wells Fargo & Company boosted their target price on shares of Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Jefferies Financial Group boosted their price objective on Comerica from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings downgraded Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Piper Sandler set a $82.00 price target on Comerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada upped their price target on Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Three equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.55.

Comerica Trading Down 0.1%

Shares of CMA opened at $77.97 on Tuesday. The stock’s 50-day moving average price is $75.34 and its 200 day moving average price is $67.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 14.88 and a beta of 1.04. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $83.22.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. The company had revenue of $824.00 million during the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%. As a group, research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, December 15th. Comerica’s dividend payout ratio (DPR) is presently 54.20%.

Comerica Company 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.