Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Galibier Capital Management Ltd.

Galibier Capital Management Ltd. lowered its position in shares of Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 512,922 shares of the bank’s stock after selling 279,639 shares during the quarter. Canadian Imperial Bank of Commerce accounts for about 6.4% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 10th biggest holding. Galibier Capital Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $24,818,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth $33,000. NewEdge Advisors LLC raised its position in Canadian Imperial Bank of Commerce by 277.9% during the first quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock worth $48,000 after acquiring an additional 828 shares in the last quarter. CENTRAL TRUST Co increased its holdings in shares of Canadian Imperial Bank of Commerce by 77.8% in the third quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank’s stock valued at $70,000 after purchasing an additional 700 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 22.7% in the third quarter. Advisors Asset Management Inc. now owns 2,420 shares of the bank’s stock valued at $93,000 after purchasing an additional 448 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce in the third quarter valued at $106,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

CM has been the topic of several research reports. Barclays initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, March 20th. They issued an “underweight” rating on the stock. Scotiabank upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Monday, December 18th. National Bank Financial upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, December 20th. Finally, StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Read Our Latest Analysis on CM

Canadian Imperial Bank of Commerce Trading Up 0.7 %

Shares of CM stock traded up $0.34 during trading hours on Wednesday, hitting $50.16. 633,009 shares of the company were exchanged, compared to its average volume of 1,901,145. The firm has a market cap of $47.03 billion, a P/E ratio of 10.36, a P/E/G ratio of 2.37 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $34.35 and a fifty-two week high of $51.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50 day simple moving average of $47.59 and a two-hundred day simple moving average of $43.51.

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) last announced its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.47 billion. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.6634 per share. The ex-dividend date is Wednesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. This represents a $2.65 annualized dividend and a yield of 5.29%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 26.45%.

Canadian Imperial Bank of Commerce Company Profile

(Free Report)

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

See Also

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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