Insider Selling: Comerica Incorporated (NYSE:CMA) Insider Sells 4,000 Shares of Stock

Key Points

• Comerica Incorporated insider James Mcgregor Carr sold 4,000 shares at an average price of $67.28, resulting in a total transaction value of $269,120 and a 10.67% decrease in his ownership stake.
• Comerica's shares recently traded at $68.04, with a market capitalization of $8.74 billion and a twelve-month trading range between $48.12 and $73.45.
• The company declared a quarterly dividend of $0.71, which will be paid on October 1st, representing an annualized yield of 4.2%.

Comerica Incorporated (NYSE:CMA - Get Free Report) insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the transaction, the insider directly owned 33,471 shares of the company's stock, valued at approximately $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Comerica Stock Performance

Shares of CMA stock traded up $2.21 during trading hours on Tuesday, hitting $68.04. The stock 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 firm has a market capitalization of $8.74 billion, a PE ratio of 13.03, a PEG ratio of 12.06 and a beta of 0.94. The stock's 50 day moving average is $62.06 and its 200 day moving average is $59.96. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $73.45.

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

Comerica Dividend Announcement

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

Institutional Investors Weigh In On Comerica

Large investors have recently modified their holdings of the stock. MorganRosel Wealth Management LLC purchased a new stake in shares of Comerica during the first quarter worth approximately $33,000. Gen Wealth Partners Inc purchased a new stake in shares of Comerica during the first quarter worth approximately $34,000. Geneos Wealth Management Inc. raised its stake in shares of Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after purchasing an additional 176 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Comerica during the second quarter worth approximately $35,000. Finally, Quarry LP raised its stake in shares of Comerica by 152.0% during the fourth 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 last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CMA shares. Wells Fargo & Company decreased their price objective on Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Raymond James Financial reiterated a "market perform" rating on shares of Comerica in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their price target on shares of Comerica from $69.00 to $73.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Royal Bank Of Canada decreased their price target on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group upgraded shares of Comerica from an "underperform" rating to a "hold" rating and lifted their price target for the stock from $50.00 to $70.00 in a research note on Wednesday, August 6th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $64.40.

About Comerica

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.

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