Comerica Incorporated (NYSE:CMA) Short Interest Update

Comerica Incorporated (NYSE:CMA - Get Free Report) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 5,040,000 shares, a growth of 9.8% from the November 15th total of 4,590,000 shares. Approximately 3.9% of the company's stock are short sold. Based on an average daily volume of 1,890,000 shares, the short-interest ratio is currently 2.7 days.

Comerica Price Performance

CMA stock traded up $0.81 during trading on Friday, hitting $66.58. The company had a trading volume of 3,631,386 shares, compared to its average volume of 2,121,829. The business has a 50 day moving average of $66.27 and a 200 day moving average of $58.07. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 16.65 and a beta of 1.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. Comerica has a fifty-two week low of $45.32 and a fifty-two week high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.16. Comerica had a net margin of 11.17% and a return on equity of 12.54%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same period in the prior year, the business posted $1.84 EPS. As a group, research analysts predict that Comerica will post 5.37 earnings per share for the current year.

Comerica declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.84 annualized dividend and a yield of 4.27%. Comerica's dividend payout ratio is currently 71.00%.

Analyst Ratings Changes

CMA has been the topic of several research analyst reports. Wedbush raised shares of Comerica from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $52.00 to $75.00 in a research report on Tuesday, September 24th. Evercore ISI lifted their target price on Comerica from $64.00 to $69.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Truist Financial boosted their price target on Comerica from $66.00 to $70.00 and gave the company a "hold" rating in a report on Monday, October 21st. StockNews.com raised shares of Comerica from a "sell" rating to a "hold" rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Comerica from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $67.27.

Insider Activity

In other Comerica news, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction of $470,480.80. Following the sale, the executive vice president now directly owns 16,428 shares in the company, valued at $1,021,821.60. The trade was a 31.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Harry Weber sold 6,500 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total value of $410,995.00. Following the completion of the transaction, the executive vice president now directly owns 15,773 shares in the company, valued at approximately $997,326.79. The trade was a 29.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,456 shares of company stock worth $977,287 over the last 90 days. Company insiders own 0.19% of the company's stock.

Institutional Trading of Comerica

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in Comerica in the third quarter worth approximately $36,000. Family Firm Inc. acquired a new position in shares of Comerica in the 2nd quarter worth $37,000. UMB Bank n.a. raised its position in shares of Comerica by 39.3% during the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider's stock worth $38,000 after purchasing an additional 208 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Comerica during the third quarter valued at $42,000. Finally, Summit Securities Group LLC boosted its position in shares of Comerica by 22.4% in the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 202 shares during the period. 80.74% of the stock is currently owned by institutional investors.

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.