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Sumitomo Life Insurance Company Continues to Hold Holding in Verizon Communications Com (VZ); Cardinal Capital Management Increases Stake in Canadian Imperial Bank Of Commerce (CM)

Canadian Imperial Bank of Commerce (NYSE:CM) Logo

Cardinal Capital Management Inc increased its stake in Canadian Imperial Bank Of Commerce (CM) by 0.52% based on its latest 2018Q3 regulatory filing with the SEC. Cardinal Capital Management Inc bought 3,255 shares as the company’s stock declined 14.84% with the market. The institutional investor held 623,543 shares of the commercial banks company at the end of 2018Q3, valued at $58.38M, up from 620,288 at the end of the previous reported quarter. Cardinal Capital Management Inc who had been investing in Canadian Imperial Bank Of Commerce for a number of months, seems to be bullish on the $36.01B market cap company. The stock increased 0.64% or $0.51 during the last trading session, reaching $80.39. About 556,851 shares traded or 32.78% up from the average. Canadian Imperial Bank of Commerce (NYSE:CM) has declined 14.33% since January 12, 2018 and is downtrending. It has underperformed by 14.33% the S&P500. Some Historical CM News: 23/05/2018 – Canadian Imperial Bank 2Q EPS C$2.89; 23/05/2018 – CANADIAN IMPERIAL BANK OF COMMERCE CM.TO – QTRLY SHR $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; 23/05/2018 – CANADIAN IMPERIAL BANK OF COMMERCE – QTRLY ADJUSTED DILUTED EPS $2.95; 23/05/2018 – Canadian Imperial Bank 2Q Adj EPS C$2.95; 23/05/2018 – Canadian Imperial Bank 2Q Canadian Commercial Banking, Wealth Management Net C$310M; 23/05/2018 – Canadian Imperial Bank 2Q Provision for Credit Losses C$212M; 23/05/2018 – Canadian Imperial Bank 2Q Net C$1.32B; 23/05/2018 – Canadian Imperial Bank 2Q Canadian Personal, Small Business Banking Net C$584M; 23/05/2018 – Canadian Imperial Bank 2Q Return on Common Shareholder Equity 17%

Sumitomo Life Insurance Company increased its stake in Verizon Communications Com (VZ) by 5.63% based on its latest 2018Q3 regulatory filing with the SEC. Sumitomo Life Insurance Company bought 6,487 shares as the company’s stock rose 7.67% while stock markets declined. The institutional investor held 121,747 shares of the telecommunications equipment company at the end of 2018Q3, valued at $6.50 million, up from 115,260 at the end of the previous reported quarter. Sumitomo Life Insurance Company who had been investing in Verizon Communications Com for a number of months, seems to be bullish on the $239.74B market cap company. The stock increased 0.73% or $0.42 during the last trading session, reaching $58.02. About 15.80M shares traded. Verizon Communications Inc. (NYSE:VZ) has risen 15.57% since January 12, 2018 and is uptrending. It has outperformed by 15.57% the S&P500. Some Historical VZ News: 04/05/2018 – VERIZON FILES PRELIMINARY PROSPECTUS SUPPLEMENT RELATED TO A POTENTIAL NOTES DUE 2020 OFFERING – SEC FILING; 14/05/2018 – Deadline Hollywd: Verizon Expressed Interest In Acquiring CBS Before Viacom Talks Heated Up; 27/03/2018 – RadioResource: Verizon to Launch Public-Safety Dedicated Core Thursday; 07/03/2018 – Moody’s affirms Frontier’s B3 corporate family rating, outlook changed to stable; 16/03/2018 – KCBS: Armed Thieves Targeting Bay Area Verizon Stores; 24/04/2018 – Tech Today: Verizon Inflects, Alphabet Spends, Apple Sinks Chips — Barron’s Blog; 24/04/2018 – Verizon Closes Above 200-Day Moving Average: Technicals; 11/05/2018 – Verizon to speak at MoffettNathanson conference May 14; 30/05/2018 – Verizon Holds onto Mobile Performance Awards in San Francisco According to a New RootMetrics Report; 20/04/2018 – US said to investigate AT&T and Verizon over wireless collusion claim, The New York Times reports

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 of Canadian Imperial Bank of Commerce (NYSE:CM) has “Underperform” rating given on Tuesday, November 1 by Bank of America. The stock has “Hold” rating by TD Securities on Thursday, December 3. Barclays Capital upgraded the stock to “Overweight” rating in Tuesday, December 19 report. The firm has “Sell” rating by Zacks given on Monday, September 7. The rating was upgraded by TD Securities to “Buy” on Wednesday, September 6. The stock of Canadian Imperial Bank of Commerce (NYSE:CM) earned “Neutral” rating by Citigroup on Wednesday, October 25. The stock has “Sector Perform” rating by RBC Capital Markets on Thursday, May 24. The firm has “Underperform” rating by Credit Suisse given on Monday, August 31. As per Thursday, August 24, the company rating was maintained by Canaccord Genuity. Dundee Securities initiated the shares of CM in report on Wednesday, September 21 with “Buy” rating.

More notable recent Canadian Imperial Bank of Commerce (NYSE:CM) news were published by: Fool.ca which released: “TFSA Investors: 3 Dividend Stocks That Pay More Than 5% – The Motley Fool Canada” on December 19, 2018, also Fool.ca with their article: “Contrarian Income Investors: 3 Stocks Yielding 5-9% – The Motley Fool Canada” published on December 23, 2018, Fool.ca published: “RRSP Investors: 3 Stocks to Buy on the Correction and Hold for Decades – The Motley Fool Canada” on December 27, 2018. More interesting news about Canadian Imperial Bank of Commerce (NYSE:CM) were released by: Fool.ca and their article: “These 2 Banks Have Hit a Remarkable Buy Point – The Motley Fool Canada” published on January 08, 2019 as well as Benzinga.com‘s news article titled: “Marijuana Stocks, ETFs, Top News And Data From The Cannabis Industry This Week – Benzinga” with publication date: January 11, 2019.

Cardinal Capital Management Inc, which manages about $1.84B and $1.05 billion US Long portfolio, decreased its stake in Vf Corporation (NYSE:VFC) by 8,845 shares to 213,100 shares, valued at $19.91 million in 2018Q3, according to the filing. It also reduced its holding in Suncor Energy Inc. (NYSE:SU) by 14,382 shares in the quarter, leaving it with 1.31 million shares, and cut its stake in Thomson Reuters Corp. (NYSE:TRI).

Among 35 analysts covering Verizon Communications Inc. (NYSE:VZ), 15 have Buy rating, 0 Sell and 20 Hold. Therefore 43% are positive. Verizon Communications Inc. had 95 analyst reports since July 22, 2015 according to SRatingsIntel. The rating was maintained by Oppenheimer on Thursday, August 10 with “Hold”. Jefferies maintained Verizon Communications Inc. (NYSE:VZ) on Wednesday, April 25 with “Hold” rating. On Monday, November 20 the stock rating was upgraded by Wells Fargo to “Outperform”. The rating was maintained by Robert W. Baird with “Neutral” on Wednesday, July 25. On Wednesday, October 11 the stock rating was maintained by KeyBanc Capital Markets with “Hold”. On Monday, January 22 the stock rating was upgraded by Scotia Capital to “Buy”. The stock has “Market Perform” rating by Bernstein on Thursday, April 7. As per Wednesday, January 25, the company rating was downgraded by RBC Capital Markets. As per Tuesday, August 11, the company rating was downgraded by Vetr. As per Wednesday, October 21, the company rating was maintained by Citigroup.

Sumitomo Life Insurance Company, which manages about $832.19M US Long portfolio, decreased its stake in Cme Group Inc Com (NASDAQ:CME) by 2,825 shares to 21,086 shares, valued at $3.59 million in 2018Q3, according to the filing. It also reduced its holding in Nordstrom Inc Com (NYSE:JWN) by 5,203 shares in the quarter, leaving it with 28,797 shares, and cut its stake in Microsoft Corp Com (NASDAQ:MSFT).

Verizon Communications Inc. (NYSE:VZ) Institutional Positions Chart

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