Comerica Target of Unusually High Options Trading (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) was the target of unusually large options trading activity on Friday. Traders acquired 284,890 call options on the company. This is an increase of 6,188% compared to the typical daily volume of 4,531 call options.

Institutional Trading of Comerica

Several hedge funds and other institutional investors have recently bought and sold shares of CMA. Swiss Life Asset Management Ltd lifted its position in shares of Comerica by 78.3% during the third quarter. Swiss Life Asset Management Ltd now owns 6,036 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 2,651 shares during the last quarter. Cambria Investment Management L.P. bought a new stake in Comerica in the third quarter valued at about $9,186,000. CIBC Private Wealth Group LLC raised its stake in Comerica by 127.4% during the third quarter. CIBC Private Wealth Group LLC now owns 1,512 shares of the financial services provider’s stock valued at $104,000 after buying an additional 847 shares in the last quarter. Danske Bank A S bought a new position in Comerica during the 3rd quarter worth approximately $137,000. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Comerica in the 3rd quarter worth approximately $218,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Performance

Comerica stock opened at $89.47 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average of $79.32 and a two-hundred day moving average of $69.82. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 17.07 and a beta of 1.07. Comerica has a fifty-two week low of $48.12 and a fifty-two week high of $90.44.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. The business had revenue of $824.00 million for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%. On average, analysts anticipate that Comerica will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. Comerica’s dividend payout ratio is presently 54.20%.

Analysts Set New Price Targets

Several analysts recently commented on CMA shares. Morgan Stanley upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective for the company in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $93.00 price target (up from $73.00) on shares of Comerica in a research report on Friday, October 10th. Piper Sandler set a $82.00 price target on Comerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Truist Financial raised their price objective on Comerica from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Finally, Evercore ISI set a $88.00 price objective on Comerica and gave the stock an “in-line” rating in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $74.26.

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.