Comerica Incorporated (NYSE:CMA) EVP Cassandra M. Mckinney Sells 7,271 Shares

Comerica Incorporated (NYSE:CMA) EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Comerica Stock Down 0.1 %

Shares of CMA stock opened at $52.08 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 10.35 and a beta of 1.27. The company’s fifty day moving average price is $51.54 and its 200-day moving average price is $49.66. Comerica Incorporated has a one year low of $28.40 and a one year high of $57.39.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate 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 previous year, the firm posted $2.39 EPS. Sell-side analysts expect that Comerica Incorporated will post 5.16 EPS for the current fiscal year.

Comerica Announces Dividend

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

Hedge Funds Weigh In On Comerica

A number of institutional investors and hedge funds have recently made changes to their positions in CMA. Norges Bank purchased a new position in shares of Comerica during the 4th quarter worth about $80,691,000. Azora Capital LP purchased a new position in shares of Comerica during the 4th quarter worth about $63,548,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Comerica by 129.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after purchasing an additional 1,088,330 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Comerica by 60.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock worth $145,444,000 after purchasing an additional 984,391 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Comerica by 51.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after purchasing an additional 870,812 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMA has been the topic of several research reports. Keefe, Bruyette & Woods dropped their target price on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Jefferies Financial Group dropped their target price on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 8th. The Goldman Sachs Group upgraded shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price on the stock in a report on Thursday, January 4th. UBS Group dropped their target price on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Stephens restated an “overweight” rating and issued a $64.00 target price on shares of Comerica in a report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.98.

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.