Comerica Incorporated (NYSE:CMA) EVP Christine M. Moore Sells 2,545 Shares of Stock

Comerica Incorporated (NYSE:CMA) EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Comerica Price Performance

NYSE CMA opened at $56.62 on Tuesday. The firm has a market cap of $7.51 billion, a P/E ratio of 11.26 and a beta of 1.25. The stock’s 50-day moving average is $52.52 and its two-hundred day moving average is $51.74. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $58.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.95.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The business 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 business earned $2.01 EPS. On average, analysts anticipate that Comerica Incorporated will post 5.05 earnings per share for the current fiscal year.

Comerica Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Comerica from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Stephens restated an “overweight” rating and issued a $64.00 target price on shares of Comerica in a report on Tuesday, June 11th. Truist Financial downgraded Comerica from a “buy” rating to a “hold” rating and lowered their price target for the company from $55.00 to $53.00 in a report on Monday, July 22nd. Barclays reduced their price objective on Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Finally, StockNews.com lowered Comerica from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.45.

Institutional Trading of Comerica

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Comerica by 105.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after acquiring an additional 3,595,036 shares during the period. Norges Bank bought a new position in shares of Comerica in the fourth quarter worth about $80,691,000. Dimensional Fund Advisors LP lifted its position in shares of Comerica by 51.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after purchasing an additional 1,370,886 shares during the last quarter. Azora Capital LP bought a new stake in Comerica during the 4th quarter valued at approximately $63,548,000. Finally, Goldman Sachs Group Inc. grew its holdings in Comerica by 51.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock valued at $143,109,000 after buying an additional 870,812 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

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.