Short-term stake in Comerica Incorporated (NYSE:CMA) increases 48.4%
Comerica Incorporated (NYSE:CMA – Get Rating) saw a surge in short-term interest during the month of April. As of April 30, there was short interest totaling 2,790,000 shares, an increase of 48.4% from the April 15 total of 1,880,000 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average trading volume of 1,530,000 shares, the short interest ratio is currently 1.8 days.
Several research firms have recently weighed in on CMA. Jefferies Financial Group upgraded Comerica from a “hold” rating to a “buy” rating and raised its price target for the company from $98.00 to $114.00 in a Monday, February 14 report. Wedbush raised its price target on Comerica from $94.00 to $102.00 and gave the stock an “outperform” rating in a Thursday, Jan. 20, report. Raymond James downgraded Comerica from an “outperforming” rating to a “market performance” rating in a Thursday, April 21 research note. B. Riley reduced his price target on Comerica from $95.00 to $90.00 and set a “neutral” rating for the company in a Thursday, April 21 research note. Finally, Piper Sandler upgraded Comerica from a “neutral” rating to an “overweight” rating and raised its price target for the stock from $90.00 to $94.00 in a Monday, May 2 research note. . Two equity research analysts gave the stock a sell rating, nine gave the company a hold rating and eleven gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $101.95.
NYSE: CMA opened at $76.26 on Friday. Comerica has a 12-month low of $63.07 and a 12-month high of $102.09. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 10.52, a growth price-to-earnings ratio of 1.69, and a beta of 1.33. The stock has a fifty-day simple moving average of $87.61 and a 200-day simple moving average of $89.66. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt ratio of 0.40.
Comerica (NYSE:CMA – Get Rating) last released its results on Wednesday, April 20. The financial services provider reported earnings per share of $1.37 for the quarter, missing the consensus estimate of $1.38 per ($0.01). The company posted revenue of $700.00 million for the quarter, versus a consensus estimate of $725.36 million. Comerica had a return on equity of 13.85% and a net margin of 33.48%. In the same quarter last year, the company posted earnings per share of $2.43. As a group, equity research analysts expect Comerica to post an EPS of 7.24 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Wednesday, June 15 will receive a dividend of $0.68 per share. The ex-dividend date is Tuesday, June 14. This represents an annualized dividend of $2.72 and a dividend yield of 3.57%. Comerica’s dividend payout ratio is currently 37.52%.
Separately, Executive Vice President Wendy Bridges sold 1,100 shares of the company in a trade dated Thursday, March 3. The stock was sold at an average price of $93.78, for a total transaction of $103,158.00. The sale was disclosed in a filing with the SEC, accessible via this link. Insiders own 0.76% of the shares of the company.
Several institutional investors have recently changed their positions in the company. Morgan Stanley increased its stake in Comerica by 38.3% in the second quarter. Morgan Stanley now owns 856,717 shares of the financial services provider valued at $61,118,000 after buying an additional 237,136 shares in the last quarter. SG Americas Securities LLC increased its stake in Comerica by 44.2% in the third quarter. SG Americas Securities LLC now owns 4,232 shares of the financial services provider valued at $341,000 after buying 1,298 additional shares in the last quarter. Commerce Bank increased its stake in Comerica by 39.0% in the third quarter. Commerce Bank now owns 7,072 shares of the financial services provider valued at $569,000 after buying an additional 1,985 shares in the last quarter. CIBC Asset Management Inc. increased its stake in Comerica by 3.0% in the third quarter. CIBC Asset Management Inc. now owns 12,320 shares of the financial services provider valued at $992,000 after purchasing an additional 356 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Comerica by 21.0% in the third quarter. Teacher Retirement System of Texas now owns 22,271 shares of the financial services provider valued at $1,793,000 after buying 3,858 additional shares in the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s shares.
Comerica Company Profile (Get an evaluation)
Comerica Incorporated, through its subsidiaries, offers various financial products and services. It operates through commercial banking, retail banking, wealth management and finance segments. The Commercial Banking segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, management services foreign exchange and loan syndication services for small and medium market businesses. , multinationals and government entities.
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