Comerica Incorporated (NYSE:CMA) EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Comerica Incorporated (NYSE:CMA) opened at $78.42 on Friday. The firm has a market cap of $13,640.00, a price-to-earnings ratio of 17.81, a PEG ratio of 1.80 and a beta of 1.50. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica Incorporated has a 52 week low of $59.15 and a 52 week high of $80.25.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.03. Comerica had a net margin of 24.87% and a return on equity of 10.35%. The business had revenue of $821.00 million during the quarter, compared to the consensus estimate of $812.83 million. During the same period in the prior year, the firm earned $0.84 earnings per share. analysts anticipate that Comerica Incorporated will post 4.86 EPS for the current fiscal year.
Comerica declared that its board has approved a share buyback plan on Tuesday, July 25th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. Comerica’s dividend payout ratio (DPR) is 27.21%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Comerica by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after acquiring an additional 1,142,275 shares during the last quarter. BlackRock Inc. boosted its stake in Comerica by 0.5% during the 2nd quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock valued at $829,069,000 after acquiring an additional 51,426 shares during the last quarter. State Street Corp boosted its stake in Comerica by 11.3% during the 2nd quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after acquiring an additional 1,010,965 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Comerica by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after acquiring an additional 1,681,640 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Comerica by 1.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,204,216 shares of the financial services provider’s stock valued at $161,437,000 after acquiring an additional 34,144 shares during the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.
Several equities analysts recently commented on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $76.00 price target on shares of Comerica in a research report on Friday, July 28th. BidaskClub lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Deutsche Bank AG upped their price target on shares of Comerica from $80.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $82.00 price target on shares of Comerica in a research report on Friday, September 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $78.00.
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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