Comerica Incorporated (NYSE: CMA – Get a rating) Executive Vice President Peter L. Sefzik sold 7,287 Comerica shares in a trade dated Thursday, August 11. The stock was sold at an average price of $83.78, for a total transaction of $610,504.86. Following the transaction, the executive vice president now owns 32,007 shares of the company, valued at approximately $2,681,546.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink.
Comerica shares down 0.0%
NYSE CMA was down $0.03 during Monday trading hours, hitting $85.63. The company had a trading volume of 523,989 shares, against an average volume of 1,360,692. The company’s 50-day moving average is $76.78 and its 200-day moving average is $84.33 . The company has a debt ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.84. Comerica Incorporated has a fifty-two week low of $70.31 and a fifty-two week high of $102.09. The company has a market capitalization of $11.20 billion, a price/earnings ratio of 12.51, a P/E/G ratio of 1.38 and a beta of 1.30.
Comerica (NYSE: CMA – Get a rating) last announced its results on Wednesday, July 20. The financial services provider reported EPS of $1.92 for the quarter, beating the consensus estimate of $1.77 by $0.15. Comerica had a return on equity of 13.63% and a net margin of 30.42%. In the same quarter a year earlier, the company posted EPS of $2.32. Sell-side analysts expect Comerica Incorporated to post earnings per share of 8.38 for the current fiscal year.
Comerica announces dividend
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The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1. Shareholders of record on Thursday, September 15 will receive a dividend of $0.68. The ex-date of this dividend is Wednesday, September 14. This represents a dividend of $2.72 on an annualized basis and a yield of 3.18%. Comerica’s dividend payout ratio is currently 39.71%.
Analysts set new price targets
A number of research analysts have weighed in on the stock recently. Wells Fargo & Company lowered its price target on Comerica shares from $82.00 to $77.00 and set an “underweight” rating for the company in a Friday, July 1 research note. TheStreet downgraded Comerica from a “b” to a “c+” rating in a Friday, May 13 research report. Evercore ISI raised its price target on Comerica to $86.00 in a Friday, July 22 research report. Piper Sandler reduced her price target on Comerica to $90.00 in a Friday, July 22 research note. Finally, Goldman Sachs Group cut its price target on Comerica shares from $104.00 to $93.00 and set a “neutral” rating for the company in a Tuesday, May 31 research note. One analyst rated the security with a sell rating, six assigned a hold rating and eleven assigned a buy rating. According to data from MarketBeat.com, Comerica currently has an average rating of “Moderate Buy” and a consensus target price of $95.45.
Hedge funds weigh on Comerica
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. Ronald Blue Trust Inc. acquired a new position in Comerica stock in the second quarter worth approximately $27,000. Quent Capital LLC increased its stake in Comerica stock by 292.3% in the first quarter. Quent Capital LLC now owns 306 shares of the financial services provider worth $28,000 after buying 228 additional shares in the last quarter. Tcwp LLC acquired a new stake in Comerica in the first quarter worth $30,000. Oliver Lagore Vanvalin Investment Group bought a new position in Comerica during Q1 worth $31,000. Finally, Oakworth Capital Inc. bought a new position in Comerica during the 2nd quarter at a value of $34,000. 80.14% of the shares are held by hedge funds and other institutional investors.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, offers various financial products and services. It operates through commercial banking, retail banking, wealth management and finance segments. The Commercial Banking segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, management services foreign exchange and loan syndication services for small and medium market businesses. , multinationals and government entities.
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