Paul R. Obermeyer Sells 198 Shares of Comerica Inc. (CMA) Stock
Comerica Inc. (NYSE:CMA) insider Paul R. Obermeyer sold 198 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $61.96, for a total value of $12,268.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Comerica Inc. (NYSE:CMA) opened at 61.13 on Tuesday. Comerica Inc. has a one year low of $30.48 and a one year high of $62.50. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 25.48 and a beta of 1.35. The firm has a 50-day moving average price of $54.07 and a 200-day moving average price of $47.29.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.10. Comerica had a return on equity of 6.36% and a net margin of 14.97%. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts expect that Comerica Inc. will post $2.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.92 dividend on an annualized basis and a yield of 1.49%. Comerica’s dividend payout ratio (DPR) is presently 37.25%.
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Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its position in Comerica by 96.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,129 shares in the last quarter. Global X Management Co. LLC raised its position in Comerica by 128.8% in the second quarter. Global X Management Co. LLC now owns 2,862 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,611 shares in the last quarter. BKS Advisors LLC bought a new position in Comerica during the third quarter worth $120,000. Pacer Advisors Inc. raised its position in Comerica by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,966 shares of the financial services provider’s stock worth $122,000 after buying an additional 244 shares in the last quarter. Finally, SRB Corp raised its position in Comerica by 9.2% in the third quarter. SRB Corp now owns 3,412 shares of the financial services provider’s stock worth $161,000 after buying an additional 287 shares in the last quarter. 81.32% of the stock is owned by hedge funds and other institutional investors.
CMA has been the topic of several recent analyst reports. Jefferies Group upgraded Comerica from a “hold” rating to a “buy” rating in a report on Monday. FBR & Co lifted their price objective on Comerica from $50.00 to $52.00 and gave the company a “mkt perform” rating in a report on Wednesday, October 19th. Zacks Investment Research upgraded Comerica from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Robert W. Baird cut Comerica from an “outperform” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a report on Thursday, November 10th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Comerica in a report on Friday, October 21st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. Comerica currently has a consensus rating of “Hold” and a consensus price target of $46.39.
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
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