Traders Sell Shares of Comerica (CMA) on Strength (CMA)
Traders sold shares of Comerica Incorporated (NYSE:CMA) on strength during trading on Friday. $36.48 million flowed into the stock on the tick-up and $113.60 million flowed out of the stock on the tick-down, for a money net flow of $77.12 million out of the stock. Of all companies tracked, Comerica had the 0th highest net out-flow for the day. Comerica traded up $1.54 for the day and closed at $85.29
A number of equities analysts have recently commented on CMA shares. Nomura raised their price objective on Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $79.00 target price (up from $76.00) on shares of Comerica in a report on Wednesday, October 4th. Piper Jaffray Companies reiterated a “hold” rating and set a $76.00 target price on shares of Comerica in a report on Friday, September 1st. Royal Bank of Canada reiterated a “buy” rating and set a $82.00 target price on shares of Comerica in a report on Friday, September 8th. Finally, Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. Comerica has a consensus rating of “Hold” and an average price target of $81.90.
The company has a market cap of $14,834.95, a PE ratio of 19.26, a P/E/G ratio of 1.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.41%. Comerica’s payout ratio is 27.15%.
In related news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was 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. Company insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Comerica by 6.7% in 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. BlackRock Inc. raised its stake in Comerica by 0.5% during the 2nd quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock valued at $829,069,000 after acquiring an additional 51,426 shares in the last quarter. State Street Corp raised its stake 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 valued at $731,672,000 after acquiring an additional 1,010,965 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 valued at $507,632,000 after acquiring an additional 1,681,640 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Comerica by 1.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,204,216 shares of the financial services provider’s stock valued at $161,437,000 after acquiring an additional 34,144 shares in the last quarter. 82.04% of the stock is currently owned by institutional investors and hedge funds.
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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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