Comerica Incorporated (NYSE:CMA) EVP Michael T. Ritchie sold 4,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $99.45, for a total value of $397,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Comerica Incorporated (CMA) traded down $1.39 on Wednesday, hitting $97.22. The company had a trading volume of 1,812,047 shares, compared to its average volume of 1,498,364. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $17,070.00, a price-to-earnings ratio of 20.42, a P/E/G ratio of 1.52 and a beta of 1.47. Comerica Incorporated has a fifty-two week low of $64.04 and a fifty-two week high of $101.73.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The business had revenue of $830.00 million for the quarter, compared to analyst estimates of $819.30 million. Comerica had a return on equity of 10.98% and a net margin of 26.39%. During the same quarter last year, the company earned $0.92 earnings per share. research analysts forecast that Comerica Incorporated will post 6.56 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its stake in shares of Comerica by 11.4% during the third quarter. Toronto Dominion Bank now owns 66,770 shares of the financial services provider’s stock valued at $5,092,000 after acquiring an additional 6,843 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Comerica by 30.1% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 35,236 shares of the financial services provider’s stock valued at $3,049,000 after acquiring an additional 8,154 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of Comerica by 23.4% during the third quarter. APG Asset Management N.V. now owns 93,210 shares of the financial services provider’s stock valued at $7,108,000 after acquiring an additional 17,700 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Comerica by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 996,123 shares of the financial services provider’s stock valued at $75,956,000 after acquiring an additional 31,136 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Comerica during the third quarter valued at $35,346,000. 83.26% of the stock is currently owned by institutional investors and hedge funds.
CMA has been the topic of a number of recent analyst reports. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Monday, December 11th. Piper Jaffray Companies raised Comerica to a “buy” rating and set a $98.00 price objective on the stock in a report on Friday, December 8th. B. Riley reaffirmed a “buy” rating and set a $84.00 price objective on shares of Comerica in a report on Monday, December 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $101.00 price objective on shares of Comerica in a report on Friday, December 22nd. Finally, Instinet raised Comerica from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $92.37.
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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