Comerica Sees Unusually Large Options Volume (CMA)
Comerica Incorporated (NYSE:CMA) was the recipient of some unusual options trading on Wednesday. Stock investors acquired 2,283 put options on the company. This is an increase of approximately 596% compared to the typical daily volume of 328 put options.
In other Comerica news, insider Peter William Guilfoile sold 2,928 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $69.50, for a total value of $203,496.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,724 shares of company stock worth $788,788. Company insiders own 1.10% of the company’s stock.
A number of large investors have recently made changes to their positions in CMA. Janus Henderson Group PLC raised its position in Comerica by 12,425.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock worth $151,194,000 after purchasing an additional 2,047,881 shares during the last quarter. JPMorgan Chase & Co. raised its position in Comerica by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after purchasing an additional 1,681,640 shares during the last quarter. Vanguard Group Inc. raised its position in Comerica by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock worth $1,330,147,000 after purchasing an additional 1,142,275 shares during the last quarter. State Street Corp raised its position in Comerica by 11.3% during the 2nd quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock worth $731,672,000 after purchasing an additional 1,010,965 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in Comerica by 132.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock worth $123,956,000 after purchasing an additional 965,041 shares during the last quarter. 82.17% of the stock is owned by institutional investors and hedge funds.
Comerica (NYSE CMA) opened at $78.67 on Friday. Comerica has a 12 month low of $61.05 and a 12 month high of $80.25. The company has a market capitalization of $13,730.00, a price-to-earnings ratio of 17.91, a PEG ratio of 1.81 and a beta of 1.50. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.03. The business had revenue of $821.00 million during the quarter, compared to analyst estimates of $812.83 million. Comerica had a return on equity of 11.22% and a net margin of 27.53%. During the same period last year, the company earned $0.84 EPS. sell-side analysts predict that Comerica will post 4.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 14th. Comerica’s dividend payout ratio is currently 27.21%.
A number of equities research analysts have weighed in on CMA shares. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $76.00 target price on shares of Comerica in a report on Friday, July 28th. Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub downgraded Comerica from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Wells Fargo & Company initiated coverage on Comerica in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $73.00 price target for the company. Finally, Robert W. Baird reiterated a “hold” rating and issued a $70.00 price target on shares of Comerica in a research note on Friday, August 25th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $78.57.
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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