Comerica Incorporated (NYSE:CMA) EVP Muneera S. Carr sold 1,368 shares of the firm’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $69.13, for a total value of $94,569.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Muneera S. Carr also recently made the following trade(s):
Comerica Incorporated (NYSE:CMA) opened at 69.58 on Friday. The stock’s 50 day moving average price is $68.62 and its 200 day moving average price is $54.37. The firm has a market capitalization of $12.20 billion, a P/E ratio of 25.96 and a beta of 1.44. Comerica Incorporated has a 12 month low of $30.48 and a 12 month high of $71.20.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, January 17th. The financial services provider reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.05. The company earned $722 million during the quarter, compared to analyst estimates of $728.90 million. Comerica had a net margin of 16.00% and a return on equity of 6.92%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. On average, analysts forecast that Comerica Incorporated will post $3.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Wednesday, March 15th will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, March 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.32%. Comerica’s dividend payout ratio (DPR) is currently 34.33%.
Several hedge funds have recently added to or reduced their stakes in CMA. Victory Capital Management Inc. boosted its stake in Comerica by 305.0% in the third quarter. Victory Capital Management Inc. now owns 1,590,807 shares of the financial services provider’s stock valued at $75,277,000 after buying an additional 1,198,008 shares during the period. Morgan Stanley boosted its stake in Comerica by 314.1% in the third quarter. Morgan Stanley now owns 1,362,262 shares of the financial services provider’s stock valued at $64,464,000 after buying an additional 1,033,275 shares during the period. Credit Suisse AG boosted its stake in Comerica by 183.2% in the third quarter. Credit Suisse AG now owns 1,595,038 shares of the financial services provider’s stock valued at $75,477,000 after buying an additional 1,031,876 shares during the period. Teachers Advisors Inc. boosted its stake in Comerica by 70.1% in the second quarter. Teachers Advisors Inc. now owns 1,649,833 shares of the financial services provider’s stock valued at $67,858,000 after buying an additional 679,830 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Comerica by 1,260.9% in the third quarter. Two Sigma Advisers LP now owns 674,194 shares of the financial services provider’s stock valued at $31,903,000 after buying an additional 624,655 shares during the period. 82.03% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have weighed in on CMA shares. Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Robert W. Baird reissued an “outperform” rating and set a $52.00 price target on shares of Comerica in a research report on Friday, October 21st. Royal Bank Of Canada raised their price objective on Comerica from $49.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, October 19th. Wedbush started coverage on Comerica in a report on Thursday, October 6th. They set a “neutral” rating and a $49.00 price objective on the stock. Finally, Deutsche Bank AG raised their price objective on Comerica from $45.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, October 11th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company’s stock. Comerica has an average rating of “Hold” and a consensus target price of $49.67.
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.