Comerica Sees Unusually Large Options Volume (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) saw some unusual options trading on Friday. Investors bought 20,293 call options on the stock. This represents an increase of approximately 321% compared to the typical daily volume of 4,819 call options.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CMA. Spire Wealth Management lifted its holdings in shares of Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after buying an additional 235 shares in the last quarter. Fortitude Family Office LLC bought a new position in Comerica in the 4th quarter valued at $36,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Comerica during the 4th quarter valued at $36,000. Abich Financial Wealth Management LLC increased its holdings in shares of Comerica by 50.2% in the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 300 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Comerica in the fourth quarter worth $50,000. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMA. Piper Sandler boosted their target price on Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. The Goldman Sachs Group cut their target price on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Morgan Stanley restated an “equal weight” rating and set a $53.00 price target on shares of Comerica in a research note on Monday, April 22nd. UBS Group dropped their price objective on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Finally, Jefferies Financial Group reduced their price objective on shares of Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average target price of $56.13.

Comerica Price Performance

Comerica stock opened at $51.04 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The business’s 50 day simple moving average is $50.67 and its 200 day simple moving average is $51.98. Comerica has a 12 month low of $37.40 and a 12 month high of $57.39. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 10.15 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the prior year, the company earned $2.39 EPS. Sell-side analysts forecast that Comerica will post 5.08 EPS for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s payout ratio is currently 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.