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 business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Comerica Stock Performance

Shares of CMA stock traded down $0.08 during mid-day trading on Friday, reaching $52.07. The stock had a trading volume of 940,819 shares, compared to its average volume of 2,091,353. The firm’s 50 day simple moving average is $51.51 and its 200 day simple moving average is $49.58. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a one year low of $28.40 and a one year high of $57.39. The firm has a market cap of $6.90 billion, a PE ratio of 10.48 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 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same quarter last year, the company earned $2.39 EPS. On average, analysts forecast that Comerica Incorporated will post 5.15 EPS for the current year.

Comerica Announces Dividend

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

Institutional Trading of Comerica

A number of hedge funds have recently modified their holdings of CMA. Vanguard Group Inc. raised its holdings in shares of Comerica by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after buying an additional 676,959 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Comerica by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock worth $186,580,000 after buying an additional 48,526 shares in the last quarter. Invesco Ltd. increased its holdings in Comerica by 4.4% during the 3rd quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider’s stock valued at $128,704,000 after purchasing an additional 130,997 shares in the last quarter. North Reef Capital Management LP increased its holdings in Comerica by 43.0% during the 3rd quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock valued at $119,664,000 after purchasing an additional 865,870 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Comerica by 60.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock valued at $145,444,000 after purchasing an additional 984,391 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CMA shares. Raymond James lowered Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Barclays upped their price objective on Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. DA Davidson reaffirmed a “neutral” rating and set a $56.00 target price on shares of Comerica in a report on Wednesday, March 6th. Royal Bank of Canada upped their target price on Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $53.00 price target on shares of Comerica in a research report on Monday. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus price target of $56.98.

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.