Guardian Partners Inc. Sells 11,714 Shares of Canadian Imperial Bank of Commerce $CM

Guardian Partners Inc. lowered its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.5% during the 3rd quarter, Holdings Channel reports. The fund owned 326,868 shares of the bank’s stock after selling 11,714 shares during the period. Canadian Imperial Bank of Commerce makes up 3.2% of Guardian Partners Inc.’s portfolio, making the stock its 5th largest holding. Guardian Partners Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $36,083,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc bought a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $36,000. Security National Bank of SO Dak acquired a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth approximately $42,000. Global Assets Advisory LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth $54,000. NFSG Corp bought a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth $75,000. Finally, Oslo Pensjonsforsikring AS acquired a new stake in Canadian Imperial Bank of Commerce in the 1st quarter valued at $132,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 1.7%

Shares of Canadian Imperial Bank of Commerce stock traded up $1.97 on Wednesday, hitting $115.12. The company had a trading volume of 202,540 shares, compared to its average volume of 1,282,618. The stock has a market capitalization of $105.09 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 1.10 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 1 year low of $80.75 and a 1 year high of $124.86. The stock has a 50 day moving average of $114.41 and a 200-day moving average of $113.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, August 27th. The bank reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.74 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.60 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Monday, September 28th will be given a C$1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 41.26%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CM. Keefe, Bruyette & Woods assumed coverage on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They set a “market perform” rating for the company. Weiss Ratings raised shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 27th. TD Securities reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, August 12th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 28th. Finally, Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $160.00.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a Canadian financial institution headquartered in Toronto, Ontario. The bank provides a broad range of financial products and services to individuals, businesses, institutions and governments through its Canadian and U.S. operations.

CIBC’s main businesses include personal and business banking, commercial banking, wealth management, and capital markets. Its offerings include deposit accounts, mortgages, consumer and business lending, credit cards, investment and advisory services, and financial planning.