Comerica Incorporated (NYSE:CMA) CEO Ralph W. Babb, Jr. sold 61,500 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $94.02, for a total transaction of $5,782,230.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Comerica Incorporated (NYSE CMA) traded up $0.22 during mid-day trading on Monday, hitting $95.21. 1,858,081 shares of the stock were exchanged, compared to its average volume of 1,661,356. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. Comerica Incorporated has a one year low of $64.04 and a one year high of $95.60. The company has a market capitalization of $16,560.00, a price-to-earnings ratio of 23.00, a P/E/G ratio of 1.46 and a beta of 1.50.
Comerica (NYSE:CMA) last released 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. Comerica had a net margin of 22.47% and a return on equity of 10.94%. The company had revenue of $830.00 million during the quarter, compared to analyst estimates of $819.30 million. During the same period last year, the business earned $0.92 earnings per share. analysts anticipate that Comerica Incorporated will post 6.53 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in Comerica during the fourth quarter valued at approximately $465,000. V Wealth Management LLC bought a new stake in Comerica during the fourth quarter valued at approximately $2,095,000. State of Alaska Department of Revenue lifted its position in Comerica by 30.3% during the fourth quarter. State of Alaska Department of Revenue now owns 38,429 shares of the financial services provider’s stock valued at $3,335,000 after purchasing an additional 8,930 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in Comerica during the fourth quarter valued at approximately $4,112,000. Finally, Schwab Charles Investment Management Inc. lifted its position in Comerica by 3.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 588,130 shares of the financial services provider’s stock valued at $51,056,000 after purchasing an additional 20,386 shares during the last quarter. Institutional investors own 81.96% of the company’s stock.
CMA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and set a $101.00 price objective on shares of Comerica in a report on Friday, December 22nd. Nomura raised their price objective on shares of Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 target price (up previously from $76.00) on shares of Comerica in a research note on Wednesday, October 4th. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Monday, December 11th. Finally, Macquarie upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Friday, November 17th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $92.37.
Comerica Company Profile
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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