Visa (V) Position Upped by Pinnacle Financial Partners Inc; As Canadian Imperial Bank Of Comm (CM) Market Value Declined, Shareholder Investec Asset Management LTD Has Trimmed Stake by $9.70 Million

June 20, 2018 - By Peter Erickson

Canadian Imperial Bank of Commerce (NYSE:CM) Logo

Pinnacle Financial Partners Inc increased its stake in Visa Inc (V) by 9.67% based on its latest 2018Q1 regulatory filing with the SEC. Pinnacle Financial Partners Inc bought 5,261 shares as the company’s stock rose 5.37% while stock markets declined. The institutional investor held 59,639 shares of the business services company at the end of 2018Q1, valued at $7.13M, up from 54,378 at the end of the previous reported quarter. Pinnacle Financial Partners Inc who had been investing in Visa Inc for a number of months, seems to be bullish on the $304.22B market cap company. The stock increased 0.53% or $0.72 during the last trading session, reaching $135.83. About 1.68M shares traded. Visa Inc. (NYSE:V) has risen 38.13% since June 20, 2017 and is uptrending. It has outperformed by 25.56% the S&P500. Some Historical V News: 28/05/2018 – INDIA SWARAJ SAYS REVOKING H1B VISA WILL HURT U.S. ECONOMY; 30/05/2018 – Visa Non-Deal Roadshow Scheduled By SunTrust for Jun. 6; 25/04/2018 – VISA INC SEES FY2018 GAAP AND ADJ EFFECTIVE TAX RATE 21% TO 22% RANGE, INCLUDING 6 PERCENTAGE POINT REDUCTION RESULTING FROM U.S. TAX REFORM; 24/05/2018 – Visa Aims to Accelerate Adoption of Mobile Payments, Tokenization in Latin America, Caribbean; 16/03/2018 – Visa finance chief hits out at craze for cryptocurrencies; 09/05/2018 – VISA AND PAYPAL EXTEND PARTNERSHIP TO ACCELERATE ADOPTION OF DIGITAL AND MOBILE PAYMENTS IN CANADA; 18/04/2018 – Visa Inc. Declares Quarterly Dividend; 28/05/2018 – Even the Smartest Millennials Are Stumped by Danish Visa Rules; 30/03/2018 – Visa Inc. Announces Resignation of Gary A. Hoffman From the Board of Directors; 02/05/2018 – Wells Capital Management Adds First Data, Exits Visa: 13F

Investec Asset Management Ltd decreased its stake in Canadian Imperial Bank Of Comm (CM) by 96.19% based on its latest 2018Q1 regulatory filing with the SEC. Investec Asset Management Ltd sold 110,197 shares as the company’s stock declined 5.54% with the market. The institutional investor held 4,362 shares of the commercial banks company at the end of 2018Q1, valued at $385,000, down from 114,559 at the end of the previous reported quarter. Investec Asset Management Ltd who had been investing in Canadian Imperial Bank Of Comm for a number of months, seems to be less bullish one the $39.61B market cap company. The stock increased 0.59% or $0.51 during the last trading session, reaching $87.47. About 45,372 shares traded. Canadian Imperial Bank of Commerce (NYSE:CM) has risen 13.41% since June 20, 2017 and is uptrending. It has outperformed by 0.84% the S&P500. Some Historical CM News: 23/05/2018 – Canadian Imperial Bank 2Q Canadian Personal, Small Business Banking Net C$584M; 23/05/2018 – Canadian Imperial Bank Announces New Normal Course Issuer Bid; 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

Investors sentiment decreased to 0.88 in Q1 2018. Its down 0.17, from 1.05 in 2017Q4. It is negative, as 41 investors sold V shares while 684 reduced holdings. 127 funds opened positions while 513 raised stakes. 1.57 billion shares or 2.35% less from 1.61 billion shares in 2017Q4 were reported. Pekin Singer Strauss Asset Mgmt Il holds 0.32% or 14,560 shares. Global Endowment Mgmt Ltd Partnership has invested 1.54% in Visa Inc. (NYSE:V). Comml Bank Of New York Mellon holds 18.18 million shares. Dana invested 0.41% in Visa Inc. (NYSE:V). Grantham Mayo Van Otterloo And Ltd Liability invested in 7,977 shares. 26,311 were accumulated by Eagleclaw Cap Managment Ltd Liability Corp. Meiji Yasuda Life Ins has 48,484 shares. Robeco Institutional Asset Management Bv owns 1.73M shares. Melvin Capital Mgmt Limited Partnership reported 1.69M shares. First Quadrant LP Ca stated it has 0.45% of its portfolio in Visa Inc. (NYSE:V). State Street has 0.74% invested in Visa Inc. (NYSE:V). Timber Creek Management Limited Liability owns 61,452 shares or 4.64% of their US portfolio. 4,339 were accumulated by Assetmark Incorporated. Burt Wealth Advisors stated it has 1,504 shares. Moreover, Zacks Investment Mgmt has 0.13% invested in Visa Inc. (NYSE:V) for 50,435 shares.

Pinnacle Financial Partners Inc, which manages about $985.31M US Long portfolio, decreased its stake in Procter And Gamble Co (NYSE:PG) by 6,085 shares to 79,669 shares, valued at $6.32M in 2018Q1, according to the filing. It also reduced its holding in Dr Pepper Snapple Group Inc (NYSE:DPS) by 9,831 shares in the quarter, leaving it with 17,329 shares, and cut its stake in National Healthcare Corp (NYSEMKT:NHC).

Among 43 analysts covering Visa Inc. (NYSE:V), 34 have Buy rating, 0 Sell and 9 Hold. Therefore 79% are positive. Visa Inc. had 132 analyst reports since July 21, 2015 according to SRatingsIntel. Cowen & Co maintained Visa Inc. (NYSE:V) on Friday, June 23 with “Outperform” rating. As per Tuesday, November 3, the company rating was maintained by RBC Capital Markets. Morgan Stanley maintained the stock with “Overweight” rating in Friday, February 2 report. The rating was upgraded by Vetr on Tuesday, September 1 to “Hold”. The stock of Visa Inc. (NYSE:V) has “Buy” rating given on Thursday, February 1 by Robert W. Baird. The rating was initiated by Cantor Fitzgerald on Thursday, September 28 with “Buy”. The firm has “Buy” rating given on Thursday, December 21 by Keefe Bruyette & Woods. Barclays Capital maintained the shares of V in report on Thursday, October 26 with “Overweight” rating. The rating was maintained by Oppenheimer with “Outperform” on Monday, October 19. The stock of Visa Inc. (NYSE:V) has “Buy” rating given on Friday, July 21 by UBS.

More important recent Visa Inc. (NYSE:V) news were published by: Schaeffersresearch.com which released: “Best Stocks to Buy After a Dow Losing Streak” on June 20, 2018, also Nasdaq.com published article titled: “Better Buy: American Express Company vs. Discover”, Seekingalpha.com published: “Visa, Inc. (V) Management Presents at William Blair 2018 Growth Stock Conference (Transcript)” on June 13, 2018. More interesting news about Visa Inc. (NYSE:V) was released by: Fool.com and their article: “Is Visa Inc. a Buy?” with publication date: June 07, 2018.

Since February 14, 2018, it had 0 insider purchases, and 3 sales for $6.34 million activity. HOFFMEISTER JAMES H also sold $1.08 million worth of Visa Inc. (NYSE:V) on Monday, April 30. 38,500 shares valued at $5.06 million were sold by MCINERNEY RYAN on Thursday, May 10.

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: “Bank cyber attacks reported in Canada” published on May 29, 2018, Fool.ca published: “A Value Dividend Stock You Can Safely Own in Your TFSA” on June 19, 2018. More interesting news about Canadian Imperial Bank of Commerce (NYSE:CM) were released by: Seekingalpha.com and their article: “Wall Street Breakfast: Turmoil In Italy Raises Euro Stakes” published on May 29, 2018 as well as Fool.ca‘s news article titled: “The Top 5 Stocks for Dividend-Hungry Investors” with publication date: June 20, 2018.

Analysts await Canadian Imperial Bank of Commerce (NYSE:CM) to report earnings on August, 23. They expect $2.23 earnings per share, up 6.19% or $0.13 from last year’s $2.1 per share. CM’s profit will be $1.01 billion for 9.81 P/E if the $2.23 EPS becomes a reality. After $2.32 actual earnings per share reported by Canadian Imperial Bank of Commerce for the previous quarter, Wall Street now forecasts -3.88% negative EPS growth.

Investec Asset Management Ltd, which manages about $18.67 billion US Long portfolio, upped its stake in Wal (NYSE:WMT) by 4,068 shares to 331,649 shares, valued at $29.51 million in 2018Q1, according to the filing. It also increased its holding in Arch Capital Group Ltd (NASDAQ:ACGL) by 41,522 shares in the quarter, for a total of 294,911 shares, and has risen its stake in Barrick Gold Corp (NYSE:ABX).

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. Macquarie Research maintained Canadian Imperial Bank of Commerce (NYSE:CM) rating on Friday, December 4. Macquarie Research has “Neutral” rating and $78 target. Canaccord Genuity maintained Canadian Imperial Bank of Commerce (NYSE:CM) on Thursday, August 27 with “Hold” rating. The firm earned “Overweight” rating on Tuesday, December 19 by Barclays Capital. BMO Capital Markets maintained the stock with “Outperform” rating in Friday, August 28 report. Keefe Bruyette & Woods upgraded the stock to “Mkt Perform” rating in Friday, February 24 report. As per Wednesday, October 25, the company rating was downgraded by Citigroup. The firm has “Buy” rating given on Wednesday, September 21 by Dundee Securities. The company was maintained on Thursday, May 24 by RBC Capital Markets. The firm has “Market Perform” rating given on Friday, August 26 by BMO Capital Markets. The rating was upgraded by Credit Suisse to “Underperform” on Monday, August 31.

Visa Inc. (NYSE:V) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>