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

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

Comerica Price Performance

Comerica stock opened at $62.92 on Friday. Comerica Incorporated has a 12 month low of $37.48 and a 12 month high of $66.06. The stock’s 50 day moving average is $58.59 and its 200-day moving average is $54.02. 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 company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 12.51 and a beta of 1.23.

Comerica (NYSE:CMA) last posted its earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.17 by $0.16. The company 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 prior year, the business earned $1.84 earnings per share. Equities research analysts expect that Comerica Incorporated will post 5.12 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $52.00 to $75.00 in a report on Tuesday, September 24th. StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a report on Monday. Evercore ISI upped their target price on Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Bank of America lowered Comerica from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $55.00 to $52.00 in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on Comerica from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Comerica presently has a consensus rating of “Hold” and an average price target of $62.57.

Institutional Investors Weigh In On Comerica

A number of large investors have recently added to or reduced their stakes in CMA. Price T Rowe Associates Inc. MD grew its position in Comerica by 105.3% during the first 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Comerica by 51.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after acquiring an additional 1,370,886 shares during the last quarter. Samlyn Capital LLC bought a new position in Comerica during the 2nd quarter worth $35,375,000. Principal Financial Group Inc. raised its position in Comerica by 311.2% during the 2nd quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider’s stock worth $33,845,000 after purchasing an additional 501,857 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Comerica by 183.5% during 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 last quarter. Institutional investors and hedge funds 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.