Comerica Incorporated (CMA) CEO Ralph W. Babb, Jr. Sells 61,500 Shares
Comerica Incorporated (NYSE:CMA) CEO Ralph W. Babb, Jr. sold 61,500 shares of Comerica stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $94.02, for a total transaction of $5,782,230.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Comerica Incorporated (NYSE CMA) opened at $95.21 on Tuesday. The stock has a market cap of $16,560.00, a price-to-earnings ratio of 23.00, a PEG ratio of 1.46 and a beta of 1.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. Comerica Incorporated has a 1-year low of $64.04 and a 1-year high of $95.60.
Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.03. The company had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same period in the prior year, the business earned $0.92 earnings per share. research analysts predict that Comerica Incorporated will post 6.53 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Comerica by 6.7% in the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock worth $1,330,147,000 after purchasing an additional 1,142,275 shares during the last quarter. State Street Corp grew its stake in shares of Comerica by 11.3% in the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock worth $731,672,000 after purchasing an additional 1,010,965 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Comerica by 33.4% in the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after purchasing an additional 1,681,640 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Comerica by 12,425.0% in the second quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock worth $151,194,000 after purchasing an additional 2,047,881 shares during the last quarter. Finally, Balyasny Asset Management LLC grew its stake in shares of Comerica by 6.1% in the second quarter. Balyasny Asset Management LLC now owns 1,939,574 shares of the financial services provider’s stock worth $142,054,000 after purchasing an additional 111,428 shares during the last quarter. Institutional investors own 81.96% of the company’s stock.
CMA has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $101.00 price target on shares of Comerica in a research report on Friday, December 22nd. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Nomura lifted their price target on shares of Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. DA Davidson reiterated a “hold” rating and issued a $81.00 price target on shares of Comerica in a research report on Wednesday, October 18th. Finally, Citigroup reiterated a “sell” rating and issued a $69.00 price target (up from $65.00) on shares of Comerica in a research report on Monday, October 9th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $92.37.
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Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services.
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