Cassandra M. Mckinney Sells 7,271 Shares of Comerica Incorporated (NYSE:CMA) Stock

Comerica Incorporated (NYSE:CMA) EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Comerica Trading Down 0.2 %

NYSE CMA opened at $52.07 on Friday. 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 twelve month low of $28.40 and a twelve month high of $57.39. The firm has a market capitalization of $6.90 billion, a PE ratio of 10.35 and a beta of 1.27. The stock’s 50 day moving average is $51.54 and its 200 day moving average is $49.72.

Comerica (NYSE:CMA) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same period in the previous year, the company posted $2.39 earnings per share. Research analysts forecast that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is 56.46%.

Institutional Investors Weigh In On Comerica

Several hedge funds have recently added to or reduced their stakes in the stock. Plan Group Financial LLC bought a new stake in Comerica in the first quarter worth $244,000. Simplicity Wealth LLC purchased a new position in shares of Comerica in the first quarter worth $228,000. LHM Inc. purchased a new position in shares of Comerica in the first quarter worth $1,655,000. Assenagon Asset Management S.A. purchased a new position in shares of Comerica in the first quarter worth $8,710,000. Finally, Fishman Jay A Ltd. MI raised its stake in shares of Comerica by 3.2% in the first quarter. Fishman Jay A Ltd. MI now owns 289,730 shares of the financial services provider’s stock worth $15,932,000 after purchasing an additional 8,975 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CMA shares. Barclays lifted their price target on Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods decreased their price target on Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Raymond James cut Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Truist Financial decreased their price target on Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, The Goldman Sachs Group upgraded Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price objective on the stock in a research report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Comerica currently has a consensus rating of “Hold” and a consensus price target of $56.98.

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.