Comerica Incorporated (CMA) CEO Ralph W. Babb, Jr. Sells 50,000 Shares

Comerica Incorporated (NYSE:CMA) CEO Ralph W. Babb, Jr. sold 50,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $99.30, for a total value of $4,965,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Ralph W. Babb, Jr. also recently made the following trade(s):

  • On Friday, February 2nd, Ralph W. Babb, Jr. sold 65,300 shares of Comerica stock. The shares were sold at an average price of $97.61, for a total value of $6,373,933.00.
  • On Wednesday, January 24th, Ralph W. Babb, Jr. sold 50,000 shares of Comerica stock. The shares were sold at an average price of $95.25, for a total value of $4,762,500.00.
  • On Thursday, January 18th, Ralph W. Babb, Jr. sold 61,500 shares of Comerica stock. The shares were sold at an average price of $94.02, for a total value of $5,782,230.00.

Shares of Comerica Incorporated (NYSE:CMA) traded up $2.01 during mid-day trading on Friday, hitting $98.68. The company had a trading volume of 1,066,251 shares, compared to its average volume of 1,504,991. 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 Incorporated has a one year low of $64.04 and a one year high of $99.80. The stock has a market capitalization of $16,710.00, a P/E ratio of 20.73, a PEG ratio of 1.50 and a beta of 1.47.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.03. Comerica had a return on equity of 10.94% and a net margin of 22.47%. The company had revenue of $830.00 million for the quarter, compared to the consensus estimate of $819.30 million. During the same quarter last year, the business posted $0.92 earnings per share. sell-side analysts predict that Comerica Incorporated will post 6.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Thursday, March 15th will be given a $0.30 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. Comerica’s dividend payout ratio (DPR) is presently 25.21%.

Several hedge funds have recently modified their holdings of CMA. Raymond James Financial Services Advisors Inc. raised its position in shares of Comerica by 37.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,596 shares of the financial services provider’s stock worth $776,000 after buying an additional 2,892 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of Comerica in the third quarter worth $250,000. Shell Asset Management Co. raised its position in shares of Comerica by 231.9% in the third quarter. Shell Asset Management Co. now owns 28,585 shares of the financial services provider’s stock worth $1,425,000 after buying an additional 19,972 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Comerica by 40.0% during the third quarter. Mutual of America Capital Management LLC now owns 57,750 shares of the financial services provider’s stock valued at $4,404,000 after purchasing an additional 16,490 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Comerica by 3.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 156,490 shares of the financial services provider’s stock valued at $11,932,000 after purchasing an additional 5,450 shares in the last quarter. Institutional investors own 83.26% of the company’s stock.

Several equities analysts have weighed in on the company. Vining Sparks reissued a “buy” rating and set a $97.50 price objective on shares of Comerica in a report on Tuesday, January 16th. Royal Bank of Canada reissued a “buy” rating and set a $103.00 price objective on shares of Comerica in a report on Wednesday, January 17th. Robert W. Baird reissued a “hold” rating and set a $95.00 price objective on shares of Comerica in a report on Wednesday, January 17th. DA Davidson reissued a “hold” rating and set a $100.00 price objective on shares of Comerica in a report on Wednesday, January 17th. Finally, Sanford C. Bernstein set a $99.00 price objective on Comerica and gave the company a “hold” rating in a report on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $92.37.

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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.

Insider Buying and Selling by Quarter for Comerica (NYSE:CMA)

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