Comerica EVP Unloads $186,212 in Stock (CMA)
Comerica (NYSE:CMA) EVP Jon W. Bilstrom sold 3,683 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $50.56, for a total transaction of $186,212.48. Following the transaction, the executive vice president now directly owns 85,928 shares of the company’s stock, valued at approximately $4,344,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on CMA shares. Analysts at Susquehanna upgraded shares of Comerica from a “negative” rating to a “neutral” rating in a research note on Tuesday, August 5th. 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 equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $49.86.
Comerica (NYSE:CMA) traded up 0.71% during mid-day trading on Monday, hitting $50.71. The stock had a trading volume of 726,455 shares. Comerica has a 1-year low of $38.56 and a 1-year high of $53.50. The stock has a 50-day moving average of $49.6 and a 200-day moving average of $49.00. The company has a market cap of $9.170 billion and a P/E ratio of 17.18.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, July 15th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.76 by $0.04. During the same quarter in the prior year, the company posted $0.76 earnings per share. Analysts expect that Comerica will post $3.12 EPS 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 1.58%. The ex-dividend date of this dividend is Thursday, September 11th.
Comerica Incorporated (NYSE:CMA) is a financial services company.
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