Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Comerica, Inc. shares valued at $382,382 were sold by McKinney Cassandra M. on Apr 24 ’24. At $52.59 per share, McKinney Cassandra M. sold 7,271 shares. The insider’s holdings dropped to 7,236 shares worth approximately $0.37 million following the completion of this transaction.
Also, Bridges Wendy sold 3,034 shares, netting a total of over 160,012 in proceeds. Following the sale of shares at $52.74 each, the insider now holds 17,460 shares.
Before that, McKinney Cassandra M. had sold 1,616 shares from its account. In a trade valued at $88,293, the EVP traded Comerica, Inc. shares for $54.64 each. Upon closing the transaction, the insider’s holdings decreased to 1,616 shares, worth approximately $0.43 million.
As published in their initiating research note from Deutsche Bank on April 10, 2024, Comerica, Inc. [CMA] has been a Hold and the price target has been revised to $59. Analysts at DA Davidson downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late February. As of January 29, 2024, Argus has decreased its “Buy” rating to a “Hold” for CMA. Earlier on January 22, 2024, Raymond James downgraded its rating. Their new recommendation was “a Mkt perform” for CMA stock which previously was a “an Outperform”.
Analyzing CMA Stock Performance
During the last five days, there has been a drop of approximately -3.29%. Over the course of the year, Comerica, Inc. shares have dropped approximately -8.24%. Shares of the company reached a 52-week high of $57.07 on 01/05/24 and a 52-week low of $47.63 on 03/01/24. A 50-day SMA is recorded $51.48, while a 200-day SMA reached $48.80. Nevertheless, trading volume fell to 1.92 million shares from 1.82 million shares the previous day.
Support And Resistance Levels for Comerica, Inc. (CMA)
According to the 24-hour chart, there is a support level at 50.12, which, if violated, would cause prices to drop to 49.02. In the upper region, resistance lies at 52.37. The next price resistance is at 53.53. RSI (Relative Strength Index) is 47.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.45, which suggests the price will decrease in the coming days. Percent R is at 51.50%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
