Comerica Incorporated (NYSE:CMA) EVP Bruce Mitchell Sells 7,564 Shares of Stock

Comerica Incorporated (NYSE:CMA) EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total value of $470,480.80. Following the completion of the sale, the executive vice president now directly owns 16,428 shares of the company’s stock, valued at $1,021,821.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Comerica Trading Down 1.9 %

Shares of CMA stock opened at $61.77 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 12.28 and a beta of 1.23. Comerica Incorporated has a 12-month low of $37.54 and a 12-month high of $66.06. The stock’s 50-day moving average price is $58.70 and its 200-day moving average price is $54.07.

Comerica (NYSE:CMA) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter in the previous year, the company posted $1.84 EPS. Equities research analysts predict that Comerica Incorporated will post 5.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Raymond James raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Tuesday, July 2nd. Royal Bank of Canada decreased their price target on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Piper Sandler upped their price objective on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $50.00 to $69.00 in a research report on Thursday, September 5th. Finally, StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.57.

Institutional Investors Weigh In On Comerica

A number of hedge funds have recently bought and sold shares of CMA. Price T Rowe Associates Inc. MD increased its holdings in shares of Comerica by 105.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after buying an additional 3,595,036 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 1,370,886 shares during the last quarter. Samlyn Capital LLC purchased a new stake in Comerica during the second quarter valued at approximately $35,375,000. Principal Financial Group Inc. lifted its stake in shares of Comerica by 311.2% in the 2nd quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider’s stock valued at $33,845,000 after purchasing an additional 501,857 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Comerica by 183.5% in the 2nd quarter. Hsbc Holdings PLC now owns 548,786 shares of the financial services provider’s stock worth $27,608,000 after purchasing an additional 355,229 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.