Comerica Incorporated (NYSE:CMA) EVP Sells $146,362.95 in Stock

Comerica Incorporated (NYSE:CMA) EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Comerica Stock Down 1.5 %

Comerica stock traded down $0.86 during mid-day trading on Monday, hitting $56.62. The company had a trading volume of 1,516,087 shares, compared to its average volume of 2,208,970. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a 1 year low of $37.40 and a 1 year high of $58.50. The business has a fifty day moving average of $52.33 and a 200 day moving average of $51.70. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 11.28 and a beta of 1.25.

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

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Institutional Trading of Comerica

A number of large investors have recently made changes to their positions in the company. OLD National Bancorp IN lifted its stake in Comerica by 4.9% in the second quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock valued at $12,130,000 after buying an additional 11,049 shares during the last quarter. Entropy Technologies LP purchased a new stake in Comerica in the 1st quarter valued at $1,764,000. SG Americas Securities LLC boosted its stake in Comerica by 66.2% during the 2nd quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock worth $3,209,000 after purchasing an additional 25,040 shares during the period. Avaii Wealth Management LLC purchased a new position in Comerica during the 4th quarter worth $679,000. Finally, Assenagon Asset Management S.A. increased its stake in Comerica by 39.3% in the second quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock valued at $11,262,000 after purchasing an additional 62,269 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays cut their price target on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Evercore ISI reduced their target price on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Robert W. Baird dropped their price target on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Raymond James upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Tuesday, July 2nd. Finally, StockNews.com cut Comerica from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.45.

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.