Comerica Incorporated (NYSE:CMA – Get Free Report) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 5,170,000 shares, an increase of 15.9% from the April 30th total of 4,460,000 shares. Based on an average trading volume of 1,960,000 shares, the short-interest ratio is currently 2.6 days. Currently, 3.9% of the shares of the company are short sold.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on CMA shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a research report on Wednesday, April 10th. They issued a “hold” rating and a $59.00 target price for the company. Morgan Stanley reiterated an “equal weight” rating and issued a $53.00 price target on shares of Comerica in a research report on Monday, April 22nd. Citigroup downgraded Comerica from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $60.00 to $56.00 in a research report on Monday, May 6th. Evercore ISI upped their target price on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Finally, UBS Group decreased their price target on Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Comerica presently has an average rating of “Hold” and an average price target of $56.89.
Insider Activity at Comerica
In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the transaction, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is owned by company insiders.
Hedge Funds Weigh In On Comerica
Several large investors have recently added to or reduced their stakes in CMA. Pitcairn Co. boosted its stake in shares of Comerica by 2.9% in the 1st quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock worth $374,000 after buying an additional 190 shares during the last quarter. Bison Wealth LLC boosted its holdings in shares of Comerica by 1.7% in the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after buying an additional 196 shares during the last quarter. Fruth Investment Management increased its holdings in Comerica by 1.6% during the fourth quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock worth $730,000 after buying an additional 200 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in Comerica by 0.7% in the first quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock valued at $1,498,000 after acquiring an additional 201 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in Comerica by 2.8% in the fourth quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 219 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.
Comerica Trading Up 2.4 %
CMA traded up $1.18 during trading on Friday, hitting $51.24. The company’s stock had a trading volume of 1,675,520 shares, compared to its average volume of 1,438,696. The firm has a market capitalization of $6.79 billion, a P/E ratio of 10.19 and a beta of 1.27. Comerica has a twelve month low of $34.88 and a twelve month high of $57.39. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average price is $52.48 and its 200-day moving average price is $51.73.
Comerica (NYSE:CMA – Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the prior year, the firm earned $2.39 EPS. Analysts anticipate that Comerica will post 5.19 EPS for the current year.
Comerica Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.54%. Comerica’s payout ratio is 56.46%.
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.