Insider Selling: Comerica EVP Unloads 1,873 Shares of Stock (CMA)
Comerica (NYSE:CMA) EVP Michael T. Ritchie sold 1,873 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $49.30, for a total transaction of $92,338.90. Following the transaction, the executive vice president now directly owns 19,228 shares of the company’s stock, valued at approximately $947,940. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Comerica (NYSE:CMA) traded up 0.51% during mid-day trading on Friday, hitting $48.83. 985,844 shares of the company’s stock traded hands. Comerica has a 52-week low of $38.56 and a 52-week high of $53.50. The stock has a 50-day moving average of $50.09 and a 200-day moving average of $48.85. The company has a market cap of $8.830 billion and a P/E ratio of 16.58.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, July 15th. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.04. During the same quarter last year, the company posted $0.76 earnings per share. On average, analysts predict that Comerica will post $3.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Thursday, September 11th.
CMA has been the subject of a number of recent research reports. Analysts at Susquehanna upgraded shares of Comerica from a “negative” rating to a “neutral” rating in a research note on Tuesday. They now have a $49.00 price target on the stock, up previously from $39.00. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Comerica in a research note on Wednesday, July 16th. They now have a $61.00 price target on the stock, up previously from $56.00. Finally, analysts at Bernstein raised their price target on shares of Comerica from $40.00 to $44.00 in a research note on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. Comerica presently has an average rating of “Hold” and an average price target of $49.86.
Comerica Incorporated (NYSE:CMA) is a financial services company.
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