Christine M. Moore Sells 2,545 Shares of Comerica Incorporated (NYSE:CMA) Stock

Comerica Incorporated (NYSE:CMA) EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Comerica Trading Down 1.0 %

NYSE:CMA opened at $56.01 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a twelve month low of $37.40 and a twelve month high of $58.50. The company has a market cap of $7.43 billion, a P/E ratio of 11.14 and a beta of 1.25. The business has a 50 day moving average price of $52.69 and a two-hundred day moving average price of $51.77.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. During the same quarter last year, the firm earned $2.01 earnings per share. As a group, analysts expect that Comerica Incorporated will post 5.05 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Friday, September 13th. Comerica’s dividend payout ratio is currently 56.46%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore ISI reduced their price target on Comerica from $58.00 to $54.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Royal Bank of Canada decreased their target price on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Barclays lowered their price target on Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. The Goldman Sachs Group reduced their price objective on shares of Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Finally, Wells Fargo & Company lowered their target price on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.45.

Institutional Trading of Comerica

Several institutional investors and hedge funds have recently bought and sold shares of CMA. Vanguard Group Inc. increased its position in shares of Comerica by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after purchasing an additional 676,959 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Comerica by 51.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after buying an additional 1,370,886 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Comerica by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock worth $186,580,000 after acquiring an additional 48,526 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Comerica by 51.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock valued at $143,109,000 after acquiring an additional 870,812 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Comerica by 1.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock valued at $93,621,000 after acquiring an additional 19,068 shares during the period. Institutional investors own 80.74% of the company’s stock.

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.