Allysun C. Fleming Sells 1,392 Shares of Comerica Incorporated (NYSE:CMA) Stock

Comerica Incorporated (NYSE:CMA) EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Comerica Stock Performance

Shares of NYSE:CMA traded down $0.78 during mid-day trading on Tuesday, reaching $70.00. The company had a trading volume of 944,231 shares, compared to its average volume of 2,140,922. The company’s 50-day moving average price is $60.72 and its 200-day moving average price is $55.18. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. Comerica Incorporated has a one year low of $40.41 and a one year high of $71.27. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 17.70 and a beta of 1.22.

Comerica (NYSE:CMA) last announced its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. Comerica had a net margin of 11.17% and a return on equity of 12.54%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same period in the previous year, the business earned $1.84 earnings per share. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.39 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Friday, December 13th. Comerica’s payout ratio is currently 71.00%.

Comerica declared that its board has authorized a stock buyback program on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on CMA shares. Truist Financial upped their target price on Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday, October 21st. DA Davidson increased their price target on shares of Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. The Goldman Sachs Group increased their price target on Comerica from $63.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Stephens raised their price target on Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Comerica has an average rating of “Hold” and a consensus target price of $62.81.

Institutional Trading of Comerica

Several institutional investors and hedge funds have recently modified their holdings of CMA. V Square Quantitative Management LLC purchased a new position in shares of Comerica in the 3rd quarter worth $36,000. Family Firm Inc. bought a new stake in shares of Comerica in the 2nd quarter valued at about $37,000. UMB Bank n.a. grew its position in Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 208 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 817 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Comerica by 50.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 300 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

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.