John D. Buchanan sells 5,688 shares of Comerica Incorporated (NYSE: CMA)

Comerica Incorporated (NYSE: CMA) executive vice president John D. Buchanan sold 5,688 shares of the company in a transaction dated Thursday, October 28. The stock was sold for an average price of $ 85.11, for a total value of $ 484,105.68. The transaction was disclosed in a document filed with the SEC, accessible through this hyperlink.

NYSE CMA shares traded down $ 0.63 at midday on Friday, reaching $ 85.09. The company had a trading volume of 721,403 shares, compared to its average volume of 1,409,182. Comerica Incorporated has a 12-month low of $ 43.03 and a 12-month high of $ 89.21. The company has a market cap of $ 11.40 billion, a P / E ratio of 11.11, a PEG ratio of 0.34 and a beta of 1.59. The company’s 50-day simple moving average is $ 76.50 and its 200-day simple moving average is $ 73.94. The company has a debt ratio of 0.38, a current ratio of 0.93, and a quick ratio of 0.93.

Comerica (NYSE: CMA) last released its results on Tuesday, October 19. The financial services provider reported earnings per share of $ 1.90 for the quarter, beating analyst consensus estimates of $ 1.64 by $ 0.26. Comerica recorded a return on equity of 14.51% and a net margin of 37.02%. In the same quarter of the previous year, the company achieved EPS of $ 1.44. As a group, sell-side analysts predict that Comerica Incorporated will post 7.93 EPS for the current year.

A number of hedge funds have recently changed their holdings to CMAs. Lazard Asset Management LLC increased its position in Comerica by 51.9% in the second quarter. Lazard Asset Management LLC now owns 395 shares of the financial services provider valued at $ 28,000 after purchasing 135 additional shares during the period. IFP Advisors Inc increased its position in Comerica by 275.9% in the second quarter. IFP Advisors Inc now owns 436 shares of the financial services provider valued at $ 31,000 after purchasing an additional 320 shares during the period. Canton Hathaway LLC purchased a new position in Comerica in the third quarter valued at $ 36,000. AGF Investments LLC increased its position in Comerica by 69.9% in the first quarter. AGF Investments LLC now owns 576 shares of the financial services provider valued at $ 41,000 after purchasing an additional 237 shares in the last quarter. Finally, Covington Capital Management increased its position in Comerica by 229.4% in the second quarter. Covington Capital Management now owns 718 shares of the financial services provider valued at $ 51,000 after purchasing an additional 500 shares in the last quarter. 77.60% of the shares are held by hedge funds and other institutional investors.

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A number of equity research analysts commented on the company. Morgan Stanley raised its price target on Comerica from $ 79.00 to $ 85 and gave the stock an “equal weight” rating in a research report released Wednesday. Raymond James increased his target price on Comerica shares from $ 94.00 to $ 96.00 and gave the stock an “outperformance” rating in a research report on Thursday, October 21. Truist increased its target price on Comerica shares from $ 83.00 to $ 98.00 and gave the stock a “buy” rating in a research report on Thursday, October 21. Wells Fargo & Company raised its target price on Comerica shares from $ 67.00 to $ 73.00 and rated the stock “underweight” in a research report released on Monday, October 4. Finally, Wolfe Research downgraded Comerica shares from an “underperformance” rating to an “outperformance” rating and increased the target share price from $ 80.00 to $ 101.00 in a. research report published Tuesday, October 5. Four equity research analysts rated the stock with a sell rating, six assigned a conservation rating, and ten issued a buy rating for the stock. According to MarketBeat, Comerica currently has an average “Hold” rating and a consensus price target of $ 84.47.

Comerica Company Profile

Comerica, Inc. engages in the provision of financial services. It operates through the following segments: Commercial banking, Retail banking, Wealth management, Finance and others. The Commercial Banking segment involves middle market enterprises, multinational corporations and government entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, trade management services and loan syndication services.

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