Comerica (NYSE:CMA) EVP Sells 8,798 Shares

Comerica Incorporated (NYSE:CMA) EVP James Harry Weber sold 8,798 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $98.04, for a total transaction of $862,555.92. Following the transaction, the executive vice president directly owned 20,543 shares in the company, valued at $2,014,035.72. The trade was a 29.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Comerica Trading Down 0.3%

CMA traded down $0.26 during trading on Friday, hitting $94.71. The company’s stock had a trading volume of 1,069,741 shares, compared to its average volume of 1,738,629. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $99.41. The stock has a market cap of $12.10 billion, a PE ratio of 17.90 and a beta of 1.03. The firm’s 50 day moving average price is $86.40 and its 200-day moving average price is $76.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.18. The business had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $851.32 million. Comerica had a return on equity of 10.92% and a net margin of 15.07%.During the same quarter last year, the firm earned $1.20 earnings per share. On average, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Monday, December 15th were issued a $0.71 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.84 annualized dividend and a yield of 3.0%. Comerica’s payout ratio is 53.69%.

Hedge Funds Weigh In On Comerica

A number of hedge funds have recently made changes to their positions in the business. Greenleaf Trust lifted its holdings in shares of Comerica by 1.7% during the 3rd quarter. Greenleaf Trust now owns 7,753 shares of the financial services provider’s stock valued at $531,000 after acquiring an additional 131 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Comerica by 0.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 30,380 shares of the financial services provider’s stock valued at $2,082,000 after purchasing an additional 131 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Comerica by 2.8% during the third quarter. Cresset Asset Management LLC now owns 5,073 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 139 shares in the last quarter. Center for Financial Planning Inc. lifted its stake in shares of Comerica by 41.2% during the third quarter. Center for Financial Planning Inc. now owns 514 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 150 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in shares of Comerica by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,272 shares of the financial services provider’s stock valued at $567,000 after buying an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CMA has been the topic of several research analyst reports. Citigroup raised their target price on shares of Comerica from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 30th. Royal Bank Of Canada lifted their price target on shares of Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price objective (up from $73.00) on shares of Comerica in a report on Friday, October 10th. Wells Fargo & Company increased their target price on Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Finally, Piper Sandler set a $82.00 price target on Comerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $79.56.

Comerica Company Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.