Allysun C. Fleming Sells 1,392 Shares of Comerica Incorporated (NYSE:CMA) Stock

Comerica Incorporated (NYSE:CMA) EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the sale, the executive vice president now owns 8,730 shares in the company, valued at approximately $600,885.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Comerica Price Performance

Shares of CMA opened at $70.24 on Thursday. The firm has a market capitalization of $9.24 billion, a PE ratio of 17.56 and a beta of 1.22. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. The company’s fifty day moving average price is $61.31 and its 200-day moving average price is $55.41. Comerica Incorporated has a 1-year low of $42.55 and a 1-year high of $71.63.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. Comerica had a return on equity of 12.54% and a net margin of 11.17%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. During the same period in the prior year, the company earned $1.84 earnings per share. On average, equities research analysts predict that Comerica Incorporated will post 5.39 EPS for the current year.

Comerica announced that its Board of Directors has approved a share repurchase program on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.04%. Comerica’s payout ratio is currently 71.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on CMA. Barclays increased their target price on Comerica from $56.00 to $66.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Truist Financial raised their price target on shares of Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods raised shares of Comerica from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $50.00 to $69.00 in a research report on Thursday, September 5th. Wells Fargo & Company lifted their price target on shares of Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Finally, 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. Three equities 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.81.

Institutional Investors Weigh In On Comerica

Several hedge funds have recently bought and sold shares of CMA. Texas Permanent School Fund Corp boosted its holdings in Comerica by 0.7% during the first quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock worth $1,498,000 after buying an additional 201 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Comerica by 865.5% during the 1st quarter. SG Americas Securities LLC now owns 37,828 shares of the financial services provider’s stock worth $2,080,000 after acquiring an additional 33,910 shares in the last quarter. Swiss National Bank boosted its stake in shares of Comerica by 0.3% during the 1st quarter. Swiss National Bank now owns 260,500 shares of the financial services provider’s stock worth $14,325,000 after acquiring an additional 800 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Comerica during the 1st quarter valued at about $233,000. Finally, Russell Investments Group Ltd. raised its holdings in Comerica by 15.3% in the 1st quarter. Russell Investments Group Ltd. now owns 223,983 shares of the financial services provider’s stock worth $12,315,000 after purchasing an additional 29,640 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.