Cdn Imperial Bk Comm Toronto (CM) Holder Acadian Asset Management LLC Has Cut Its Position as Market Value Declined

August 10, 2018 - By Ann Prendergast

Canadian Imperial Bank of Commerce (NYSE:CM) Logo

Acadian Asset Management Llc decreased its stake in Cdn Imperial Bk Comm Toronto (CM) by 4.33% based on its latest 2018Q1 regulatory filing with the SEC. Acadian Asset Management Llc sold 289,721 shares as the company’s stock declined 5.54% with the market. The institutional investor held 6.40M shares of the commercial banks company at the end of 2018Q1, valued at $564.46M, down from 6.69 million at the end of the previous reported quarter. Acadian Asset Management Llc who had been investing in Cdn Imperial Bk Comm Toronto for a number of months, seems to be less bullish one the $40.73 billion market cap company. The stock decreased 0.92% or $0.84 during the last trading session, reaching $90.8. About 244,744 shares traded. Canadian Imperial Bank of Commerce (NYSE:CM) has risen 13.41% since August 10, 2017 and is uptrending. It has outperformed by 0.84% the S&P500.

Acadian Asset Management Llc, which manages about $65.15B and $23.12B US Long portfolio, upped its stake in Laboratory Corp Amer Hldgs (NYSE:LH) by 198,444 shares to 198,803 shares, valued at $32.16 million in 2018Q1, according to the filing. It also increased its holding in Norbord Inc (NBRXF) by 228,874 shares in the quarter, for a total of 1.88 million shares, and has risen its stake in Jones Lang Lasalle Inc (NYSE:JLL).

Analysts await Canadian Imperial Bank of Commerce (NYSE:CM) to report earnings on August, 23. They expect $2.23 EPS, up 6.19 % or $0.13 from last year’s $2.1 per share. CM’s profit will be $1.00B for 10.18 P/E if the $2.23 EPS becomes a reality. After $2.32 actual EPS reported by Canadian Imperial Bank of Commerce for the previous quarter, Wall Street now forecasts -3.88 % negative EPS growth.

More notable recent Canadian Imperial Bank of Commerce (NYSE:CM) news were published by: Fool.ca which released: “Is Now a Good Time to Be Making an Investment in Canada’s Banks?” on July 22, 2018, also Seekingalpha.com with their article: “Moody’s upgrades Canadian banks’ long-term ratings on methodology update” published on July 17, 2018, Fool.ca published: “Retirees: 4 Stocks That Boast Tasty Income” on August 09, 2018. More interesting news about Canadian Imperial Bank of Commerce (NYSE:CM) were released by: Twst.com and their article: “CIBC – Canadian Imperial Bank of Commerce: Media Advisory – CIBC to Announce Third Quarter 2018 Results on …” published on August 07, 2018 as well as Seekingalpha.com‘s news article titled: “National Bank Of Canada: The Underrated Canadian Bank” with publication date: July 30, 2018.

Canadian Imperial Bank of Commerce (NYSE:CM) Ratings 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.