Bank of New York Mellon Corp Reduces Stake in Comerica Incorporated
According to a recent filing with the U.S. Securities and Exchange Commission, Bank of New York Mellon Corp trimmed its holdings in Comerica Incorporated (NYSE: CMA) by 3.7% during the second quarter.
After the adjustment, the institution owned approximately 1,287,811 shares of the financial services company’s stock, valued at around $76.82 million.
The report confirms that the reduction was disclosed in the firm’s latest SEC submission for the quarter.
This move reflects regular portfolio rebalancing by institutional investors in the banking and financial services sector.
Author’s Summary
Bank of New York Mellon Corp reduced its Comerica stake by 3.7%, ending the quarter with shares worth roughly $76.82 million, according to its SEC filing.