Comerica Incorporated (NYSE:CMA) EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $73.49, for a total value of $235,168.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE:CMA traded down $2.02 during midday trading on Thursday, reaching $71.44. The company’s stock had a trading volume of 48,662 shares, compared to its average volume of 1,620,834. The company has a market capitalization of $11.14 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 1.29 and a beta of 1.43. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.03 and a quick ratio of 1.03. Comerica Incorporated has a fifty-two week low of $63.69 and a fifty-two week high of $100.64.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.15. Comerica had a return on equity of 16.95% and a net margin of 34.75%. The business had revenue of $852.00 million for the quarter, compared to the consensus estimate of $852.88 million. During the same period in the prior year, the business earned $1.59 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts anticipate that Comerica Incorporated will post 8.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Thursday, June 13th. Comerica’s dividend payout ratio (DPR) is currently 37.02%.
A number of equities research analysts have commented on the company. B. Riley reduced their price target on Comerica from $87.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 26th. JPMorgan Chase & Co. lowered Comerica from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $89.00 to $79.00 in a research report on Thursday, April 4th. ValuEngine upgraded Comerica from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd. DA Davidson reduced their price target on Comerica from $87.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group lowered Comerica from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $91.91.
A number of hedge funds have recently bought and sold shares of CMA. Oppenheimer Asset Management Inc. acquired a new position in Comerica during the 4th quarter worth approximately $25,000. Trust Department MB Financial Bank N A raised its stake in Comerica by 64.3% during the 1st quarter. Trust Department MB Financial Bank N A now owns 345 shares of the financial services provider’s stock worth $25,000 after buying an additional 135 shares during the period. Liberty Wealth Management LLC acquired a new position in Comerica during the 4th quarter worth approximately $26,000. Claybrook Capital LLC purchased a new stake in shares of Comerica in the fourth quarter worth approximately $29,000. Finally, CWM LLC raised its stake in shares of Comerica by 247.5% in the first quarter. CWM LLC now owns 424 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 302 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.
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Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services middle market businesses, multinational corporations, and governmental entities.
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