In a filing, Comerica, Inc. revealed its EVP Bridges Wendy unloaded Company’s shares for reported $0.16 million on Feb 12 ’24. In the deal valued at $52.74 per share,3,034 shares were sold. As a result of this transaction, Bridges Wendy now holds 17,460 shares worth roughly $0.92 million.
Then, McKinney Cassandra M. sold 1,616 shares, generating $88,293 in total proceeds. Upon selling the shares at $54.64, the EVP now owns 8,314 shares.
DA Davidson downgraded its Comerica, Inc. [CMA] rating to a Neutral from a a Buy in a research note published on February 27, 2024; the price target was decreased to $56 from $63. A number of analysts have revised their coverage, including Argus’s analysts, who decreased its forecast for the stock in late January from “a Buy” to “a Hold”. Raymond James also remained covering CMA and has decreased its forecast on January 22, 2024 with a “Mkt perform” recommendation from previously “an Outperform” rating. Goldman revised its rating on January 04, 2024. It rated CMA as “a Buy” which previously was an “a Neutral”.
Price Performance Review of CMA
On Friday, Comerica, Inc. [NYSE:CMA] saw its stock fall -0.23% to $52.64. Over the last five days, the stock has lost -4.27%. Comerica, Inc. shares have fallen nearly -5.68% since the year began. Nevertheless, the stocks have risen 31.50% over the past one year. While a 52-week high of $57.39 was reached on 01/05/24, a 52-week low of $28.40 was recorded on 03/01/24. SMA at 50 days reached $51.54, while 200 days put it at $48.10. A total of 1.23 million shares were traded, compared to the trading of 1.47 million shares in the previous session.
Levels Of Support And Resistance For CMA Stock
The 24-hour chart illustrates a support level at 52.14, which if violated will result in even more drops to 51.63. On the upside, there is a resistance level at 53.12. A further resistance level may holdings at 53.59. The Relative Strength Index (RSI) on the 14-day chart is 52.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 40.40%. Stochastics %K at 66.05% indicates the stock is a holding.
How much short interest is there in Comerica, Inc.?
A steep rise in short interest was recorded in Comerica, Inc. stocks on Mar 15, 2024, dropping by -0.42 million shares to a total of 5.09 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 5.51 million shares. There was a decline of -8.25%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.41% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.03.
