Wells Fargo Co New (WFC) Holding Held by Gibraltar Capital Management Inc; Cdn Imperial Bk Comm Toronto (Call) (CM) Shares Declined While Cibc World Markets Cut Its Position by $126.03 Million

June 21, 2018 - By wolcottdaily

Canadian Imperial Bank of Commerce (NYSE:CM) Logo

Cibc World Markets Inc decreased its stake in Cdn Imperial Bk Comm Toronto (Call) (CM) by 87.75% based on its latest 2018Q1 regulatory filing with the SEC. Cibc World Markets Inc sold 1.43 million shares as the company’s stock declined 5.54% with the market. The institutional investor held 200,000 shares of the commercial banks company at the end of 2018Q1, valued at $17.66 million, down from 1.63 million at the end of the previous reported quarter. Cibc World Markets Inc who had been investing in Cdn Imperial Bk Comm Toronto (Call) for a number of months, seems to be less bullish one the $39.67 billion market cap company. The stock increased 0.74% or $0.64 during the last trading session, reaching $87.6. About 187,716 shares traded. Canadian Imperial Bank of Commerce (NYSE:CM) has risen 13.41% since June 21, 2017 and is uptrending. It has outperformed by 0.84% the S&P500. Some Historical CM News: 23/05/2018 – Canadian Imperial Bank 2Q Capital Markets Net C$249M; 23/05/2018 – Canadian Imperial Bank 2Q Canadian Commercial Banking, Wealth Management Net C$310M; 23/05/2018 – Canadian Imperial Bank 2Q Return on Common Shareholder Equity 17%; 23/05/2018 – Canadian Imperial Bank 2Q Adj EPS C$2.95; 23/05/2018 – CANADIAN IMPERIAL BANK OF COMMERCE – QTRLY ADJUSTED DILUTED EPS $2.95; 23/05/2018 – CANADIAN IMPERIAL BANK OF COMMERCE CM.TO – QTRLY SHR $2.89; 23/05/2018 – CANADIAN IMPERIAL BANK OF COMMERCE – ALL FIGURES IN C$; 11/04/2018 – Report: Exploring Fundamental Drivers Behind Athene Holding, Aercap Holdings N.V, Amdocs, Signet Jewelers, Canadian Imperial Ba; 23/05/2018 – Canadian Imperial Bank 2Q EPS C$2.89; 27/03/2018 CANADIAN IMPERIAL BANK OF COMMERCE – DOMESTIC PUBLIC OFFERING OF $1.50 BLN OF 3.45% DEBENTURES DUE APRIL 4, 2028

Gibraltar Capital Management Inc increased its stake in Wells Fargo Co New (WFC) by 104.75% based on its latest 2018Q1 regulatory filing with the SEC. Gibraltar Capital Management Inc bought 42,285 shares as the company’s stock declined 8.45% with the market. The institutional investor held 82,652 shares of the major banks company at the end of 2018Q1, valued at $4.33M, up from 40,367 at the end of the previous reported quarter. Gibraltar Capital Management Inc who had been investing in Wells Fargo Co New for a number of months, seems to be bullish on the $265.47 billion market cap company. The stock decreased 1.09% or $0.6 during the last trading session, reaching $54.48. About 16.55 million shares traded. Wells Fargo & Company (NYSE:WFC) has risen 4.02% since June 21, 2017 and is uptrending. It has underperformed by 8.55% the S&P500. Some Historical WFC News: 06/04/2018 – ISS ALSO RECOMMENDS WELLS FARGO SHAREHOLDERS VOTE AGAINST REFORM EXECUTIVE COMPENSATION POLICY WITH SOCIAL RESPONSIBILITY; 09/04/2018 – TPI Completes Debt Refinancing with a New $150 million, 5-Year Revolving Credit Facility; 24/04/2018 – GLOBAL BANKS: UBS SAYS IT IS NEUTRAL ON BANKS IN EUROPE, JAPAN AND EMERGING MARKETS; 22/05/2018 – Banc of California at Wells Fargo Conference Tomorrow; 08/05/2018 – WELLS FARGO SAYS ALPHARANK & AMICUS.IO JOIN STARTUP ACCELERATOR; 11/04/2018 – NINE ENERGY SERVICE INC NINE.N : WELLS FARGO RAISES TARGET PRICE TO $35 FROM $33; 08/05/2018 – Kennametal at Wells Fargo Industrials Conference Tomorrow; 05/05/2018 – BUFFETT SAYS FIRST-QUARTER OPERATING RESULTS WOULD BE A “REASONABLE ESTIMATE” OF BERKSHIRE’S NORMALIZED EARNINGS POWER; 26/04/2018 – WELLS FARGO’S 401(K) PRACTICES PROBED BY LABOR DEPARTMENT – WSJ, CITING; 19/04/2018 – Wells Fargo Dropped by Teachers Union Over Ties to Gun Industry

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Seekingalpha.com which released: “US banks may boost payouts by $30B after stress tests: Bloomberg” on June 19, 2018, also Bizjournals.com with their article: “Here’s how much Houston public companies spent on litigation in 2017” published on June 20, 2018, Bizjournals.com published: “Wells Fargo sheds almost 100 jobs in pricey San Francisco” on June 19, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Seekingalpha.com and their article: “Wells Fargo: Only Buy On Weakness” published on May 26, 2018 as well as Seekingalpha.com‘s news article titled: “WSJ: Wells Fargo planning to restructure wealth management business” with publication date: June 18, 2018.

Among 39 analysts covering Wells Fargo & Company (NYSE:WFC), 17 have Buy rating, 8 Sell and 14 Hold. Therefore 44% are positive. Wells Fargo & Company had 149 analyst reports since July 29, 2015 according to SRatingsIntel. The company was downgraded on Monday, October 17 by Keefe Bruyette & Woods. The firm has “Buy” rating given on Friday, October 6 by Robert W. Baird. Sandler O’Neill downgraded the shares of WFC in report on Monday, April 11 to “Hold” rating. The stock of Wells Fargo & Company (NYSE:WFC) has “Buy” rating given on Thursday, March 29 by Sandler O’Neill. The firm has “Overweight” rating by Barclays Capital given on Monday, July 18. Vining Sparks upgraded the shares of WFC in report on Friday, April 6 to “Buy” rating. Piper Jaffray downgraded Wells Fargo & Company (NYSE:WFC) on Friday, April 15 to “Underweight” rating. BMO Capital Markets maintained Wells Fargo & Company (NYSE:WFC) on Friday, April 13 with “Hold” rating. JP Morgan upgraded the stock to “Overweight” rating in Friday, October 9 report. The firm has “Hold” rating given on Monday, April 23 by Susquehanna.

Since May 24, 2018, it had 0 insider buys, and 1 insider sale for $1.40 million activity.

Investors sentiment decreased to 0.59 in Q1 2018. Its down 0.16, from 0.75 in 2017Q4. It is negative, as 108 investors sold WFC shares while 790 reduced holdings. 122 funds opened positions while 412 raised stakes. 3.62 billion shares or 0.62% less from 3.64 billion shares in 2017Q4 were reported. 28,775 are owned by Violich. Bankshares Of Hawaii reported 0.32% stake. Raymond James Tru Na reported 1.04% in Wells Fargo & Company (NYSE:WFC). Compton Capital Mngmt Inc Ri has 1.27% invested in Wells Fargo & Company (NYSE:WFC) for 48,907 shares. Carnegie Asset Management Limited Liability holds 1.51% or 335,297 shares. Alphaone Invest Service Ltd Com reported 735 shares. Salient Tru Lta has 0.18% invested in Wells Fargo & Company (NYSE:WFC) for 27,505 shares. Colonial Advsrs has invested 0.06% in Wells Fargo & Company (NYSE:WFC). 22,856 are held by Blue Edge Limited Liability Com. Pictet North America Advsr Sa holds 0.28% in Wells Fargo & Company (NYSE:WFC) or 35,423 shares. Arrowstreet Lp holds 49,449 shares. Dekabank Deutsche Girozentrale owns 1.38M shares. Wallace Cap Mngmt Inc owns 7,849 shares or 0.06% of their US portfolio. Bangor Bankshares, a Maine-based fund reported 42,609 shares. Edge Wealth Management Llc owns 26,502 shares for 0.37% of their portfolio.

Gibraltar Capital Management Inc, which manages about $250.37 million and $117.96M US Long portfolio, decreased its stake in Micron Technology Inc (NASDAQ:MU) by 80,603 shares to 140,181 shares, valued at $7.31 million in 2018Q1, according to the filing. It also reduced its holding in Csx Corp (NYSE:CSX) by 67,870 shares in the quarter, leaving it with 95,046 shares, and cut its stake in Morgan Stanley (NYSE:MS).

More notable recent Canadian Imperial Bank of Commerce (NYSE:CM) news were published by: Fool.ca which released: “Canadian Banks: Brace Yourself for Another Headwind” on June 17, 2018, also Seekingalpha.com with their article: “Wall Street Breakfast: Turmoil In Italy Raises Euro Stakes” published on May 29, 2018, Seekingalpha.com published: “If You Want To Own Your Bank, Consider Scotiabank” on June 04, 2018. More interesting news about Canadian Imperial Bank of Commerce (NYSE:CM) were released by: Fool.ca and their article: “A Value Dividend Stock You Can Safely Own in Your TFSA” published on June 19, 2018 as well as Nasdaq.com‘s news article titled: “Consolidated Research: 2018 Summary Expectations for Seaspan, Canadian Imperial Bank of Commerce, Bank Of …” with publication date: June 01, 2018.

Among 15 analysts covering Canadian Imperial Bank Of Commerce (NYSE:CM), 6 have Buy rating, 2 Sell and 7 Hold. Therefore 40% are positive. Canadian Imperial Bank Of Commerce had 30 analyst reports since August 4, 2015 according to SRatingsIntel. The stock has “Neutral” rating by Citigroup on Wednesday, October 25. The rating was downgraded by TD Securities to “Hold” on Thursday, December 3. The stock of Canadian Imperial Bank of Commerce (NYSE:CM) has “Hold” rating given on Monday, September 21 by Zacks. The stock has “Outperform” rating by BMO Capital Markets on Monday, August 31. As per Thursday, August 27, the company rating was upgraded by Credit Suisse. Zacks downgraded the stock to “Sell” rating in Monday, September 7 report. The company was maintained on Friday, August 28 by RBC Capital Markets. RBC Capital Markets maintained Canadian Imperial Bank of Commerce (NYSE:CM) rating on Thursday, June 30. RBC Capital Markets has “Sector Perform” rating and $104 target. Zacks upgraded the shares of CM in report on Tuesday, September 1 to “Strong Sell” rating. Bank of America initiated Canadian Imperial Bank of Commerce (NYSE:CM) on Tuesday, November 1 with “Underperform” rating.

Wells Fargo & Company (NYSE:WFC) Institutional Positions Chart

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