Comerica Incorporated (NYSE:CMA) EVP Bruce Mitchell Sells 7,564 Shares

Comerica Incorporated (NYSE:CMA) EVP Bruce Mitchell sold 7,564 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total value of $470,480.80. Following the transaction, the executive vice president now directly owns 16,428 shares of the company’s stock, valued at approximately $1,021,821.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Comerica Stock Performance

Shares of CMA opened at $62.92 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. Comerica Incorporated has a one year low of $37.48 and a one year high of $66.06. The company has a 50-day simple moving average of $58.59 and a two-hundred day simple moving average of $54.02. The firm has a market capitalization of $8.34 billion, a PE ratio of 12.51 and a beta of 1.23.

Comerica (NYSE:CMA) last announced its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the firm earned $1.84 earnings per share. On average, analysts anticipate that Comerica Incorporated will post 5.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Comerica

Institutional investors and hedge funds have recently made changes to their positions in the company. OLD National Bancorp IN grew its position in Comerica by 4.9% in the 2nd quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock worth $12,130,000 after purchasing an additional 11,049 shares during the period. Entropy Technologies LP bought a new stake in Comerica in the 1st quarter worth approximately $1,764,000. SG Americas Securities LLC grew its position in Comerica by 66.2% in the 2nd quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock worth $3,209,000 after purchasing an additional 25,040 shares during the period. Assenagon Asset Management S.A. grew its position in Comerica by 39.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock worth $11,262,000 after purchasing an additional 62,269 shares during the period. Finally, LSV Asset Management grew its position in Comerica by 13.6% in the 1st quarter. LSV Asset Management now owns 835,389 shares of the financial services provider’s stock worth $45,938,000 after purchasing an additional 100,189 shares during the period. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. DA Davidson increased their price target on Comerica from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday. Royal Bank of Canada decreased their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $52.00 to $75.00 in a report on Tuesday, September 24th. The Goldman Sachs Group increased their price target on Comerica from $63.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Evercore ISI raised their target price on Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.57.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.