Comerica Incorporated (NYSE:CMA) EVP Sells $382,381.89 in Stock

Comerica Incorporated (NYSE:CMA) EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Comerica Trading Down 0.1 %

Shares of CMA opened at $52.08 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $57.39. The firm has a 50-day moving average price of $51.54 and a 200 day moving average price of $49.66. The firm has a market capitalization of $6.90 billion, a P/E ratio of 10.35 and a beta of 1.27.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. During the same quarter in the prior year, the firm posted $2.39 earnings per share. Sell-side analysts forecast that Comerica Incorporated will post 5.16 EPS for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Friday, June 14th. Comerica’s dividend payout ratio is currently 56.46%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CMA. Truist Financial lowered their price target on shares of Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Barclays upped their price objective on shares of Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Raymond James cut shares of Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on shares of Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Comerica currently has an average rating of “Hold” and an average target price of $56.98.

Institutional Investors Weigh In On Comerica

A number of hedge funds have recently modified their holdings of CMA. Spire Wealth Management grew its holdings in shares of Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the period. Fortitude Family Office LLC purchased a new position in Comerica during the fourth quarter worth about $36,000. Turtle Creek Wealth Advisors LLC purchased a new position in Comerica during the fourth quarter worth about $36,000. Authentikos Wealth Advisory LLC purchased a new position in Comerica during the third quarter worth about $47,000. Finally, FNY Investment Advisers LLC purchased a new position in Comerica during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.