Short Interest in Comerica Incorporated (NYSE:CMA) Expands By 8.0%

Comerica Incorporated (NYSE:CMAGet Rating) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 2,020,000 shares, a growth of 8.0% from the August 15th total of 1,870,000 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 997,500 shares, the days-to-cover ratio is currently 2.0 days.

Insider Buying and Selling

In related news, EVP Peter L. Sefzik sold 7,287 shares of Comerica stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $83.78, for a total value of $610,504.86. Following the completion of the sale, the executive vice president now directly owns 32,007 shares in the company, valued at approximately $2,681,546.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Comerica

Large investors have recently modified their holdings of the stock. Ronald Blue Trust Inc. bought a new position in shares of Comerica during the 2nd quarter valued at approximately $27,000. Quent Capital LLC increased its position in shares of Comerica by 292.3% during the 1st quarter. Quent Capital LLC now owns 306 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 228 shares during the last quarter. Tcwp LLC bought a new position in shares of Comerica during the 1st quarter valued at approximately $30,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Comerica during the 1st quarter valued at approximately $31,000. Finally, Oakworth Capital Inc. bought a new position in shares of Comerica during the 2nd quarter valued at approximately $34,000. Institutional investors own 82.56% of the company’s stock.

Comerica Stock Performance

NYSE:CMA opened at $79.35 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.84. Comerica has a 1 year low of $70.37 and a 1 year high of $102.09. The stock’s 50 day simple moving average is $80.20 and its two-hundred day simple moving average is $81.90. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.25 and a beta of 1.27.

Comerica (NYSE:CMAGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.15. Comerica had a return on equity of 13.63% and a net margin of 30.42%. During the same period in the prior year, the business posted $2.32 EPS. As a group, equities analysts anticipate that Comerica will post 8.47 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Wednesday, September 14th. Comerica’s payout ratio is 39.71%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CMA shares. Citigroup raised their target price on Comerica to $95.00 in a research report on Friday, July 22nd. Wells Fargo & Company lowered their price objective on Comerica from $82.00 to $77.00 and set an “underweight” rating on the stock in a research report on Friday, July 1st. B. Riley lowered their price objective on Comerica from $90.00 to $80.00 in a research report on Monday, July 11th. Jefferies Financial Group lowered their price objective on Comerica from $100.00 to $86.00 in a research report on Monday, July 11th. Finally, The Goldman Sachs Group lowered their price objective on Comerica from $104.00 to $93.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.95.

Comerica Company Profile

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Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.

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