Comerica Incorporated Plans Quarterly Dividend of $0.71 (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) declared a quarterly dividend on Tuesday, November 4th. Shareholders of record on Monday, December 15th will be paid a dividend of 0.71 per share by the financial services provider on Thursday, January 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, December 15th.

Comerica has increased its dividend by an average of 0.0%per year over the last three years. Comerica has a dividend payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Comerica to earn $5.80 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 49.0%.

Comerica Stock Up 0.2%

Shares of CMA traded up $0.16 on Wednesday, hitting $77.54. 96,214 shares of the stock traded hands, compared to its average volume of 2,123,050. The company has a market capitalization of $9.91 billion, a PE ratio of 14.79 and a beta of 1.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. The business has a 50 day simple moving average of $73.10 and a 200 day simple moving average of $65.07. Comerica has a one year low of $48.12 and a one year high of $83.22.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The company had revenue of $824.00 million during the quarter. As a group, equities analysts forecast that Comerica will post 5.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 2,100 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the sale, the executive vice president owned 9,424 shares in the company, valued at $631,690.72. The trade was a 18.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Mcgregor Carr sold 4,000 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the sale, the insider owned 33,471 shares in the company, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

Institutional Trading of Comerica

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Comerica by 466.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock worth $499,615,000 after purchasing an additional 6,003,703 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Comerica by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock valued at $325,308,000 after buying an additional 472,409 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Comerica by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,741,310 shares of the financial services provider’s stock valued at $282,819,000 after buying an additional 77,869 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Comerica by 55.3% during the 2nd quarter. Primecap Management Co. CA now owns 2,593,800 shares of the financial services provider’s stock valued at $154,720,000 after buying an additional 923,690 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Comerica by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,579,763 shares of the financial services provider’s stock valued at $153,905,000 after buying an additional 73,971 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Comerica

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.