Insider Selling: Comerica Incorporated (NYSE:CMA) EVP Sells 7,271 Shares of Stock

Comerica Incorporated (NYSE:CMA) EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at $380,541.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Comerica Price Performance

Shares of CMA 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 has a market cap of $6.90 billion, a price-to-earnings ratio of 10.48 and a beta of 1.27. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39. The business has a fifty day moving average of $51.51 and a 200 day moving average of $49.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same period in the prior year, the business posted $2.39 earnings per share. Equities analysts predict that Comerica Incorporated will post 5.15 EPS for the current year.

Comerica Dividend Announcement

The company also recently declared 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 is Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.45%. Comerica’s payout ratio is currently 56.46%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CMA. UBS Group decreased their target price on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Bank Of America (Bofa) lifted their target price on shares of Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Jefferies Financial Group decreased their target price on shares of Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 8th. DA Davidson reissued a “neutral” rating and set a $56.00 price objective on shares of Comerica in a report on Wednesday, March 6th. Finally, Barclays boosted their price objective on shares of Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.98.

Hedge Funds Weigh In On Comerica

A number of hedge funds have recently modified their holdings of CMA. Vanguard Group Inc. lifted its holdings in shares of Comerica by 4.2% in the fourth 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. lifted its holdings in shares of Comerica by 1.5% in the fourth 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. lifted its holdings in shares of Comerica by 4.4% in the third quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider’s stock worth $128,704,000 after buying an additional 130,997 shares in the last quarter. North Reef Capital Management LP lifted its holdings in shares of Comerica by 43.0% in the third quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock worth $119,664,000 after buying an additional 865,870 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Comerica by 60.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock worth $145,444,000 after buying an additional 984,391 shares in the last quarter. 80.74% of the stock is currently 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.