On May 3, 2023 at 11:36:55 ET an unusually large $311.04K block of Put contracts in Comerica (CMA) was bought, with a strike price of $32.50 / share, expiring in 44 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.23 sigmas above the mean, placing it in the 87.89th percentile of all recent large trades made in CMA options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1235 funds or institutions reporting positions in Comerica. This is a decrease of 46 owner(s) or 3.59% in the last quarter. Average portfolio weight of all funds dedicated to CMA is 0.23%, a decrease of 1.80%. Total shares owned by institutions decreased in the last three months by 1.15% to 124,900K shares. The put/call ratio of CMA is 1.35, indicating a bearish outlook.

Analyst Price Forecast Suggests 59.09% Upside

As of April 24, 2023, the average one-year price target for Comerica is $59.21. The forecasts range from a low of $45.45 to a high of $84.10. The average price target represents an increase of 59.09% from its latest reported closing price of $37.22.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Comerica is $4,082MM, an increase of 9.64%. The projected annual non-GAAP EPS is $10.22.

What are Other Shareholders Doing?

Fox Run Management, L.l.c. holds 12K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 20K shares, representing a decrease of 70.86%. The firm decreased its portfolio allocation in CMA by 99.94% over the last quarter.

Nuveen Asset Management holds 551K shares representing 0.42% ownership of the company. In it’s prior filing, the firm reported owning 949K shares, representing a decrease of 72.31%. The firm decreased its portfolio allocation in CMA by 47.79% over the last quarter.

DFAU – Dimensional US Core Equity Market ETF holds 14K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 12K shares, representing an increase of 10.48%. The firm decreased its portfolio allocation in CMA by 2.62% over the last quarter.

Handelsbanken Fonder AB holds 21K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 13K shares, representing an increase of 35.92%. The firm decreased its portfolio allocation in CMA by 6.67% over the last quarter.

PREIX – T. Rowe Price Equity Index 500 Fund holds 91K shares representing 0.07% ownership of the company. In it’s prior filing, the firm reported owning 92K shares, representing a decrease of 0.37%. The firm decreased its portfolio allocation in CMA by 12.43% over the last quarter.

Comerica Declares $0.71 Dividend

On April 25, 2023 the company declared a regular quarterly dividend of $0.71 per share ($2.84 annualized). Shareholders of record as of June 15, 2023 will receive the payment on July 1, 2023. Previously, the company paid $0.71 per share.

At the current share price of $37.22 / share, the stock’s dividend yield is 7.63%. Looking back five years and taking a sample every week, the average dividend yield has been 4.15%, the lowest has been 1.38%, and the highest has been 9.95%. The standard deviation of yields is 1.64 (n=237).

The current dividend yield is 2.12 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.29. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.04%, demonstrating that it has increased its dividend over time.

Comerica Background Information
(This description is provided by the company.)

Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.

See all Comerica regulatory filings.

This article originally appeared on Fintel

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