Comerica Incorporated (NYSE:CMA) EVP Sells $410,995.00 in Stock

Comerica Incorporated (NYSE:CMA) EVP James Harry Weber sold 6,500 shares of Comerica stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total transaction of $410,995.00. Following the sale, the executive vice president now owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Comerica Trading Down 1.7 %

Shares of Comerica stock traded down $1.06 during trading hours on Friday, reaching $61.88. The stock had a trading volume of 644,850 shares, compared to its average volume of 2,156,880. The firm has a 50 day simple moving average of $58.59 and a two-hundred day simple moving average of $54.02. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 12.34 and a beta of 1.23. Comerica Incorporated has a 1 year low of $37.54 and a 1 year high of $66.06. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same quarter in the prior year, the business earned $1.84 earnings per share. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.12 earnings per share for the current year.

Analyst Ratings Changes

CMA has been the subject of several research analyst reports. Stephens raised their price objective on Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday. Barclays upped their target price on Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a report on Monday. StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research note on Monday. Morgan Stanley increased their price objective on shares of Comerica from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, The Goldman Sachs Group raised their price target on Comerica from $63.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.57.

Institutional Investors Weigh In On Comerica

Several institutional investors and hedge funds have recently modified their holdings of CMA. Principal Financial Group Inc. boosted its position in shares of Comerica by 1.2% in the first quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider’s stock worth $8,867,000 after buying an additional 1,858 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Comerica by 3.1% in the first quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider’s stock valued at $4,793,000 after purchasing an additional 2,580 shares during the period. HB Wealth Management LLC boosted its stake in shares of Comerica by 7.5% in the first quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 356 shares during the period. Mission Wealth Management LP boosted its stake in shares of Comerica by 11.3% in the first quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 644 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Comerica by 13.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock valued at $3,375,000 after purchasing an additional 7,418 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.