Comerica Incorporated (NYSE:CMA) Short Interest Update

Comerica Incorporated (NYSE:CMA) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 4,920,000 shares, a growth of 10.1% from the September 15th total of 4,470,000 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily volume of 2,050,000 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CMA shares. Evercore ISI boosted their target price on Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group lifted their price target on Comerica from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Piper Sandler boosted their target price on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. StockNews.com cut Comerica from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Truist Financial raised their price objective on Comerica from $53.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.62.

Insider Activity

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CMA. Pitcairn Co. increased its stake in shares of Comerica by 2.9% during the 1st quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Comerica by 19.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $66,000 after buying an additional 199 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Comerica by 0.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock valued at $1,498,000 after buying an additional 201 shares during the last quarter. Summit Securities Group LLC grew its stake in shares of Comerica by 22.4% during the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 202 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 208 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 0.4 %

Shares of NYSE CMA traded up $0.28 during mid-day trading on Thursday, reaching $62.60. 2,137,752 shares of the company’s stock traded hands, compared to its average volume of 2,150,351. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50-day simple moving average of $57.50 and a 200 day simple moving average of $53.63. The stock has a market cap of $8.30 billion, a P/E ratio of 12.50 and a beta of 1.23. Comerica has a 1-year low of $37.40 and a 1-year high of $63.27.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.30. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter in the previous year, the firm earned $2.01 earnings per share. On average, analysts expect that Comerica will post 5.12 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Friday, September 13th. Comerica’s dividend payout ratio is presently 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.