Comerica Incorporated (NYSE:CMA) EVP Allysun C. Fleming Sells 2,100 Shares

Key Points

• EVP Allysun C. Fleming of Comerica Incorporated sold 2,100 shares at $67.03 each, decreasing her total ownership by 18.22% to 9,424 shares.
• Comerica recently declared a quarterly dividend of $0.71 per share, translating to an annual yield of 4.2% for stockholders of record as of September 15.
• Analysts have a consensus "Hold" rating for Comerica, with target price adjustments ranging from $54.00 to $70.00 by various firms following recent reports.

Comerica Incorporated (NYSE:CMA - Get Free Report) EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.03, for a total value of $140,763.00. Following the sale, the executive vice president owned 9,424 shares of the company's stock, valued at $631,690.72. This represents a 18.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Comerica Trading Up 3.4%

Shares of NYSE:CMA traded up $2.21 during trading on Tuesday, hitting $68.04. The company had a trading volume of 1,693,080 shares, compared to its average volume of 2,001,541. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The company has a fifty day simple moving average of $62.06 and a two-hundred day simple moving average of $59.96. Comerica Incorporated has a one year low of $48.12 and a one year high of $73.45. The stock has a market cap of $8.74 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 12.06 and a beta of 0.94.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.19. Comerica had a return on equity of 10.92% and a net margin of 14.92%. The firm had revenue of $849.00 million for the quarter, compared to the consensus estimate of $844.39 million. During the same period in the prior year, the business posted $1.49 earnings per share. As a group, equities analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, September 15th. Comerica's dividend payout ratio is presently 54.41%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup increased their target price on Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group raised Comerica from an "underperform" rating to a "hold" rating and increased their price target for the company from $50.00 to $70.00 in a research note on Wednesday, August 6th. UBS Group set a $64.00 price target on Comerica and gave the company a "neutral" rating in a research note on Monday, July 21st. Stephens reissued an "equal weight" rating on shares of Comerica in a research note on Monday, July 21st. Finally, Piper Sandler increased their price target on Comerica from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Comerica presently has an average rating of "Hold" and a consensus price target of $64.40.

Institutional Investors Weigh In On Comerica

Hedge funds and other institutional investors have recently modified their holdings of the business. MorganRosel Wealth Management LLC purchased a new stake in shares of Comerica in the first quarter worth approximately $33,000. Gen Wealth Partners Inc purchased a new stake in shares of Comerica in the first quarter worth approximately $34,000. FNY Investment Advisers LLC purchased a new stake in shares of Comerica in the second quarter worth approximately $35,000. Geneos Wealth Management Inc. raised its holdings in shares of Comerica by 41.8% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after buying an additional 176 shares during the period. Finally, Quarry LP increased its holdings in Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after purchasing an additional 523 shares during the period. 80.74% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.