Investors Sell Comerica (CMA) on Strength (CMA)
Traders sold shares of Comerica Incorporated (NYSE:CMA) on strength during trading hours on Tuesday. $22.80 million flowed into the stock on the tick-up and $63.46 million flowed out of the stock on the tick-down, for a money net flow of $40.66 million out of the stock. Of all stocks tracked, Comerica had the 19th highest net out-flow for the day. Comerica traded up $0.28 for the day and closed at $86.54
CMA has been the topic of several research reports. Nomura increased their target price on Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $76.00 target price on shares of Comerica in a research report on Friday, September 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $80.00 target price (up from $78.00) on shares of Comerica in a research report on Saturday, September 16th. Finally, Citigroup reaffirmed a “sell” rating and issued a $69.00 target price (up from $65.00) on shares of Comerica in a research report on Monday, October 9th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $81.90.
The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $14,834.95, a PE ratio of 19.25, a P/E/G ratio of 1.96 and a beta of 1.51.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.39%. Comerica’s dividend payout ratio is presently 27.15%.
In other news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction dated 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. 1.10% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in CMA. Janus Henderson Group PLC grew its stake in shares of Comerica by 12,425.0% during the second quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after acquiring an additional 2,047,881 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Comerica by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after acquiring an additional 1,681,640 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Comerica by 6.7% during the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after acquiring an additional 1,142,275 shares in the last quarter. State Street Corp grew its stake in shares of Comerica by 11.3% during the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after acquiring an additional 1,010,965 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Comerica by 132.7% during the second quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock valued at $123,956,000 after acquiring an additional 965,041 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.
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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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