Comerica Incorporated (NYSE:CMA) EVP Sells $382,381.89 in Stock

Comerica Incorporated (NYSE:CMA - Get Free Report) EVP Cassandra M. Mckinney sold 7,271 shares of the firm's stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Comerica Stock Performance

Shares of CMA traded down $0.07 during trading hours on Friday, hitting $52.08. The stock had a trading volume of 975,473 shares, compared to its average volume of 2,091,781. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a 50-day moving average price of $51.54 and a 200 day moving average price of $49.66. Comerica Incorporated has a fifty-two week low of $28.40 and a fifty-two week high of $57.39. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 10.35 and a beta of 1.27.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $807.57 million. During the same period in the previous year, the business posted $2.39 EPS. As a group, research analysts anticipate that Comerica Incorporated will post 5.15 EPS for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Friday, June 14th. Comerica's payout ratio is presently 56.46%.

Institutional Investors Weigh In On Comerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMA. SG Americas Securities LLC purchased a new stake in Comerica in the 3rd quarter worth $756,000. Hartford Investment Management Co. increased its holdings in Comerica by 3.1% in the 3rd quarter. Hartford Investment Management Co. now owns 9,480 shares of the financial services provider's stock worth $394,000 after acquiring an additional 287 shares in the last quarter. Czech National Bank increased its holdings in Comerica by 47.8% in the 3rd quarter. Czech National Bank now owns 23,031 shares of the financial services provider's stock worth $957,000 after acquiring an additional 7,444 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in Comerica in the 3rd quarter worth $1,274,000. Finally, Raymond James & Associates grew its holdings in shares of Comerica by 34.0% during the third quarter. Raymond James & Associates now owns 172,199 shares of the financial services provider's stock worth $7,155,000 after buying an additional 43,679 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an "equal weight" rating and issued a $53.00 price objective on shares of Comerica in a research report on Monday. Stephens reaffirmed an "overweight" rating and issued a $64.00 price objective on shares of Comerica in a research report on Friday, April 19th. Piper Sandler lifted their price objective on shares of Comerica from $54.00 to $56.00 and gave the stock a "neutral" rating in a research report on Friday. Jefferies Financial Group lowered their target price on shares of Comerica from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, April 8th. Finally, UBS Group lowered their target price on shares of Comerica from $59.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, April 19th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $56.98.

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.