Insider Selling: Comerica Inc. (CMA) Insider Sells $12,268.08 in Stock
Comerica Inc. (NYSE:CMA) insider Paul R. Obermeyer sold 198 shares of Comerica stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $61.96, for a total transaction of $12,268.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Comerica Inc. (NYSE:CMA) opened at 61.75 on Wednesday. Comerica Inc. has a one year low of $30.48 and a one year high of $62.50. The stock has a market cap of $10.64 billion, a price-to-earnings ratio of 25.74 and a beta of 1.35. The company has a 50 day moving average of $54.07 and a 200-day moving average of $47.29.
Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.10. Comerica had a return on equity of 6.36% and a net margin of 14.97%. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, analysts anticipate that Comerica Inc. will post $2.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, December 13th. Comerica’s dividend payout ratio (DPR) is currently 37.25%.
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A number of large investors have recently added to or reduced their stakes in CMA. Price T Rowe Associates Inc. MD increased its stake in Comerica by 8.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 376,926 shares of the financial services provider’s stock worth $17,836,000 after buying an additional 28,300 shares during the period. Credit Suisse AG increased its stake in Comerica by 183.2% in the third quarter. Credit Suisse AG now owns 1,595,038 shares of the financial services provider’s stock worth $75,477,000 after buying an additional 1,031,876 shares during the period. Intl Fcstone Inc. acquired a new stake in Comerica during the third quarter worth approximately $583,000. Candriam Luxembourg S.C.A. increased its stake in Comerica by 488.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 398,794 shares of the financial services provider’s stock worth $18,871,000 after buying an additional 330,969 shares during the period. Finally, Eaton Vance Management increased its stake in Comerica by 30.5% in the third quarter. Eaton Vance Management now owns 49,197 shares of the financial services provider’s stock worth $2,328,000 after buying an additional 11,500 shares during the period. 81.32% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on CMA shares. Robert W. Baird reaffirmed an “outperform” rating on shares of Comerica in a research report on Thursday, August 4th. lifted their target price on shares of Comerica from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 6th. Barclays PLC lifted their target price on shares of Comerica from $42.00 to $45.00 and gave the stock an “underweight” rating in a research note on Thursday, September 15th. Goldman Sachs Group Inc. upgraded shares of Comerica from a “neutral” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Friday, September 16th. Finally, Zacks Investment Research cut shares of Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $46.39.
Comerica Company Profile
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
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