Galibier Capital Management Ltd. Has $24.82 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Galibier Capital Management Ltd. trimmed its holdings in Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 35.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,922 shares of the bank’s stock after selling 279,639 shares during the quarter. Canadian Imperial Bank of Commerce comprises about 6.4% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 10th biggest holding. Galibier Capital Management Ltd. owned about 0.06% of Canadian Imperial Bank of Commerce worth $24,818,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Bruce G. Allen Investments LLC purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at about $33,000. NewEdge Advisors LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 277.9% during the 1st quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock valued at $48,000 after acquiring an additional 828 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in shares of Canadian Imperial Bank of Commerce by 77.8% during the 3rd quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank’s stock valued at $70,000 after acquiring an additional 700 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 22.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,420 shares of the bank’s stock valued at $93,000 after acquiring an additional 448 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $106,000. 49.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CM shares. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, December 8th. Jefferies Financial Group began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock. Bank of America raised shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Monday, December 18th. Barclays began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an “underweight” rating for the company. Finally, Scotiabank raised 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Check Out Our Latest Research Report on CM

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock traded up $0.34 during midday trading on Wednesday, hitting $50.16. The company had a trading volume of 633,009 shares, compared to its average volume of 1,901,145. The stock has a market cap of $47.03 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 2.37 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $47.59 and a 200 day simple moving average of $43.51. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) last issued its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share 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 for the quarter, compared to the consensus estimate of $4.47 billion. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

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

Canadian Imperial Bank of Commerce 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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