Key Points
- EVP Allysun Fleming sold 8,864 shares at an average price of $94.47 for a total of $837,382.08, cutting her stake by 64.94% to 4,785 shares.
- Comerica beat quarterly EPS estimates with $1.46 per share (consensus $1.28) and reported $850 million in revenue, while analysts forecast about 5.28 EPS for the full year.
- The bank pays a quarterly dividend of $0.71 (a 3.1% yield) with a 53.7% payout ratio, and Wall Street consensus is a "Hold" with a $79.56 target.
Comerica Incorporated (NYSE:CMA - Get Free Report) EVP Allysun Fleming sold 8,864 shares of the business's stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $94.47, for a total value of $837,382.08. Following the completion of the sale, the executive vice president directly owned 4,785 shares of the company's stock, valued at approximately $452,038.95. This trade represents a 64.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Comerica Price Performance
CMA opened at $92.82 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.97 and a quick ratio of 0.96. The stock's 50 day simple moving average is $88.13 and its 200 day simple moving average is $77.32. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of 17.55 and a beta of 1.03. Comerica Incorporated has a 1 year low of $48.12 and a 1 year high of $99.41.
Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.18. Comerica had a return on equity of 10.74% and a net margin of 15.07%.The firm had revenue of $850.00 million during the quarter, compared to analyst estimates of $851.32 million. During the same quarter in the prior year, the firm posted $1.20 earnings per share. As a group, analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.
Comerica Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Monday, December 15th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, December 15th. Comerica's dividend payout ratio is 53.69%.
Hedge Funds Weigh In On Comerica
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Comerica by 466.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider's stock worth $499,615,000 after acquiring an additional 6,003,703 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Comerica by 0.9% during the third quarter. Dimensional Fund Advisors LP now owns 5,884,169 shares of the financial services provider's stock valued at $403,187,000 after purchasing an additional 53,243 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Comerica by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,741,310 shares of the financial services provider's stock valued at $282,819,000 after purchasing an additional 77,869 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Comerica by 1.2% in the 3rd quarter. Primecap Management Co. CA now owns 2,625,625 shares of the financial services provider's stock worth $179,908,000 after purchasing an additional 31,825 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Comerica by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,579,763 shares of the financial services provider's stock worth $153,905,000 after buying an additional 73,971 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on CMA shares. Weiss Ratings restated a "hold (c+)" rating on shares of Comerica in a report on Wednesday, January 21st. UBS Group raised Comerica from a "hold" rating to a "buy" rating and set a $106.00 target price on the stock in a research note on Tuesday, January 6th. Piper Sandler set a $82.00 price target on shares of Comerica and gave the company a "neutral" rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $93.00 price objective (up from $73.00) on shares of Comerica in a report on Friday, October 10th. Finally, TD Cowen reaffirmed a "hold" rating on shares of Comerica in a research report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.56.
Check Out Our Latest Report on Comerica
About Comerica
(
Get Free Report)
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.
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