Insider Selling: J Michael Fulton Sells 7,234 Shares of Comerica Stock (CMA)
Comerica (NYSE:CMA) EVP J Michael Fulton unloaded 7,234 shares of the company’s stock on the open market in a transaction dated Friday, January 24th. The stock was sold at an average price of $47.52, for a total transaction of $343,759.68. Following the sale, the executive vice president now directly owns 73,336 shares of the company’s stock, valued at approximately $3,484,927. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
CMA has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Comerica from $45.00 to $50.00 in a research note to investors on Tuesday, January 21st. They now have an “outperform” rating on the stock. Separately, analysts at Compass Point raised their price target on shares of Comerica from $44.00 to $49.00 in a research note to investors on Tuesday, January 21st. They now have a “neutral” rating on the stock. Finally, analysts at Keefe, Bruyette & Woods upgraded shares of Comerica from an “underperform” rating to a “market perform” rating in a research note to investors on Tuesday, January 21st. Seven investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the company. Comerica has an average rating of “Hold” and an average target price of $41.65.
Comerica (NYSE:CMA) traded up 0.45% on Tuesday, hitting $46.78. 1,598,499 shares of the company’s stock traded hands. Comerica has a one year low of $33.29 and a one year high of $49.95. The stock’s 50-day moving average is $47.09 and its 200-day moving average is $43.44. The company has a market cap of $8.528 billion and a price-to-earnings ratio of 16.34.
Comerica (NYSE:CMA) last announced its earnings results on Friday, January 17th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.74 by $0.03. During the same quarter in the prior year, the company posted $0.68 earnings per share. Analysts expect that Comerica will post $3.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of 0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Wednesday, March 12th. This is an increase from Comerica’s previous quarterly dividend of $0.17.
Comerica Incorporated (NYSE:CMA) is a financial services company.
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