Today, Insider Selling: Comerica Inc. (CMA) EVP Sold $265,528.56 in Stock

Today, Insider Selling: Comerica Inc. (CMA) EVP Sold $265,528.56 in Stock

Comerica Inc. (NYSE:CMA) EVP Megan D. Burkhart sold 4,373 shares of Comerica stock in a transaction on Monday, November 21st. The shares were sold at an average price of $60.72, for a total value of $265,528.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Comerica Inc. (NYSE:CMA) opened at 62.17 on Friday. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 25.91 and a beta of 1.35. The company has a 50-day moving average price of $53.24 and a 200-day moving average price of $46.96. Comerica Inc. has a 1-year low of $30.48 and a 1-year high of $62.44.

Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.10. Comerica had a net margin of 14.97% and a return on equity of 6.36%. During the same quarter last year, the business earned $0.74 EPS. On average, equities analysts expect that Comerica Inc. will post $2.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.48%. Comerica’s payout ratio is currently 37.25%.

Several large investors have recently made changes to their positions in CMA. Price T Rowe Associates Inc. MD raised its stake in shares of Comerica by 8.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 376,926 shares of the financial services provider’s stock valued at $17,836,000 after buying an additional 28,300 shares during the last quarter. Credit Suisse AG raised its stake in shares of Comerica by 183.2% in the third quarter. Credit Suisse AG now owns 1,595,038 shares of the financial services provider’s stock valued at $75,477,000 after buying an additional 1,031,876 shares during the last quarter. Intl Fcstone Inc. purchased a new stake in shares of Comerica during the third quarter valued at approximately $583,000. Candriam Luxembourg S.C.A. raised its stake in shares of Comerica by 488.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 398,794 shares of the financial services provider’s stock valued at $18,871,000 after buying an additional 330,969 shares during the last quarter. Finally, Eaton Vance Management raised its stake in shares of Comerica by 30.5% in the third quarter. Eaton Vance Management now owns 49,197 shares of the financial services provider’s stock valued at $2,328,000 after buying an additional 11,500 shares during the last quarter. Institutional investors own 87.28% of the company’s stock.

A number of research analysts recently issued reports on CMA shares. Wedbush started coverage on Comerica in a report on Thursday, October 6th. They issued a “neutral” rating and a $49.00 target price for the company. Goldman Sachs Group Inc. upgraded Comerica from a “neutral” rating to a “buy” rating and set a $52.00 target price for the company in a report on Friday, September 16th. lifted their target price on Comerica from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, September 6th. Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Finally, FBR & Co downgraded Comerica from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a report on Tuesday, October 11th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $46.39.

Comerica Company Profile

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