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

Comerica Incorporated (NYSE:CMA) EVP Bruce Mitchell sold 7,564 shares of the firm’s stock in a transaction that occurred 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 owns 16,428 shares of the company’s stock, valued at $1,021,821.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Comerica Trading Up 1.4 %

NYSE CMA traded up $0.89 during trading hours on Thursday, hitting $62.91. The company’s stock had a trading volume of 768,221 shares, compared to its average volume of 2,159,845. The stock has a fifty day moving average of $58.43 and a 200 day moving average of $53.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a twelve month low of $37.48 and a twelve month high of $66.06. The firm has a market capitalization of $8.34 billion, a P/E ratio of 12.55 and a beta of 1.23.

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

Analyst Ratings Changes

Several research firms have issued reports on CMA. Barclays increased their price objective on Comerica from $56.00 to $66.00 and gave the stock an “underweight” rating in a research note on Monday. The Goldman Sachs Group lifted their price target on shares of Comerica from $63.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a research note on Monday. Stephens raised their price objective on shares of Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company boosted their target price on Comerica from $43.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.57.

Hedge Funds Weigh In On Comerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Comerica by 31.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,335 shares of the financial services provider’s stock valued at $559,000 after acquiring an additional 2,215 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Comerica by 12.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,847 shares of the financial services provider’s stock worth $4,801,000 after purchasing an additional 9,052 shares during the period. CWC Advisors LLC. bought a new position in shares of Comerica during the third quarter worth $424,000. Assenagon Asset Management S.A. grew its holdings in shares of Comerica by 97.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 435,085 shares of the financial services provider’s stock valued at $26,066,000 after buying an additional 214,426 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Comerica in the 3rd quarter valued at $11,091,000. Institutional investors own 80.74% of the company’s stock.

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.