Hsbc Holdings PLC Increases Stock Holdings in Comerica Incorporated (NYSE:CMA)

Hsbc Holdings PLC boosted its holdings in Comerica Incorporated (NYSE:CMA) by 183.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 548,786 shares of the financial services provider’s stock after purchasing an additional 355,229 shares during the quarter. Hsbc Holdings PLC owned approximately 0.41% of Comerica worth $27,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CMA. Vanguard Group Inc. increased its stake in shares of Comerica by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after acquiring an additional 676,959 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after purchasing an additional 1,370,886 shares during the period. Goldman Sachs Group Inc. increased its position in Comerica by 51.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after purchasing an additional 870,812 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Comerica by 1.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after purchasing an additional 19,068 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Comerica by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock valued at $78,288,000 after purchasing an additional 130,458 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CMA shares. DA Davidson reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Comerica in a research report on Tuesday, September 10th. Robert W. Baird reduced their price objective on Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Wells Fargo & Company dropped their target price on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a research report on Wednesday, June 12th. Raymond James raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.32.

Insiders Place Their Bets

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Comerica Stock Performance

Comerica stock opened at $61.49 on Friday. Comerica Incorporated has a 52 week low of $37.40 and a 52 week high of $61.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The stock has a market cap of $8.15 billion, a P/E ratio of 12.22 and a beta of 1.23. The stock has a 50 day moving average of $55.23 and a 200-day moving average of $52.66.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.30. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period last year, the business earned $2.01 EPS. On average, analysts expect that Comerica Incorporated will post 5.05 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s payout ratio is currently 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.