Comerica Incorporated [CMA] EVP makes an insider purchase of 362 shares worth 26316.0.


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Comerica Incorporated shares valued at $26,316 were sold by McKinney Cassandra M. on Jan 31. At $72.70 per share, McKinney Cassandra M. sold 362 shares. The insider’s holdings dropped to 6,250 shares worth approximately $0.39 million following the completion of this transaction.

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Also, McKinney Cassandra M. sold 3,262 shares, netting a total of over 237,358 in proceeds. Following the sale of shares at $72.76 each, the insider now holds 6,825 shares.

Before that, Bridges Wendy had sold 4,447 shares from its account. In a trade valued at $320,495, the EVP traded Comerica Incorporated shares for $72.07 each. Upon closing the transaction, the insider’s holdings decreased to 4,447 shares, worth approximately $0.75 million.

As published in a research note from Piper Sandler on February 15, 2023, Comerica Incorporated [CMA] has been rated down from an Overweight to a Neutral and the price target has been revised to $82 from $77. This represents a 24.5% premium over Thursday’s closing price. Analysts at Odeon upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of December 21, 2022, DA Davidson has increased its “Neutral” rating to a “Buy” for CMA. Earlier on December 13, 2022, Keefe Bruyette downgraded its rating. Their new recommendation was “a Mkt perform” for CMA stock which previously was a “an Outperform”.

Analyzing CMA Stock Performance

On Thursday, Comerica Incorporated [NYSE: CMA] plunged -8.01% to $61.91. The stock’s lowest price that day was $61.53, but it reached a high of $66.41 in the same session. During the last five days, there has been a drop of approximately -9.28%. Over the course of the year, Comerica Incorporated shares have dropped approximately -7.39%. Shares of the company reached a 52-week high of $77.34 on 02/09/23 and a 52-week low of $61.53 on 03/09/23. A 50-day SMA is recorded $70.43, while a 200-day SMA reached $73.83. Nevertheless, trading volume fell to 4.05 million shares from 2.07 million shares the previous day.

Support And Resistance Levels for Comerica Incorporated (CMA)

According to the 24-hour chart, there is a support level at 60.16, which, if violated, would cause prices to drop to 58.40. In the upper region, resistance lies at 65.04. The next price resistance is at 68.16. RSI (Relative Strength Index) is 25.99 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.79, which suggests the price will decrease in the coming days. Percent R is at 96.90%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Comerica Incorporated subject to short interest?

Stocks of Comerica Incorporated saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.5 million shares to 3.22 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 2.72 million shares. A jump of 15.53% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.09 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.09.

Which companies own the most shares of Comerica Incorporated (CMA)?

According to The Vanguard Group, Inc. filings, the company currently owns 16,484,739 shares, which is about 12.59% of the total CMA shares outstanding. The investor’s shares have appreciated by 789,697 from its previous 13-F filing of 15695042.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $699,489,051. SSgA Funds Management, Inc. acquire a 1.90% interest valued at $573.39 million while Fidelity Management & Research Co purchased a 632,092 stake. A total of 296,736 shares of Comerica Incorporated were bought by Charles Schwab Investment Managem during the quarter, and 616,472 were bought by Invesco Advisers, Inc. In its current portfolio, Geode Capital Management LLC holds 2,741,969 shares valued at $201.01 million.


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