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

Galibier Capital Management Ltd. lifted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 523,698 shares of the bank’s stock after purchasing an additional 48,053 shares during the quarter. Canadian Imperial Bank of Commerce comprises about 7.3% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 3rd largest position. Galibier Capital Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $32,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 35,913,241 shares of the bank’s stock valued at $1,821,520,000 after buying an additional 675,786 shares in the last quarter. Toronto Dominion Bank increased its holdings in Canadian Imperial Bank of Commerce by 17.9% during the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after acquiring an additional 3,942,894 shares in the last quarter. Cibc World Market Inc. raised its position in Canadian Imperial Bank of Commerce by 18.9% during the second quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock worth $938,834,000 after acquiring an additional 3,143,734 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Canadian Imperial Bank of Commerce by 26.8% in the second quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank’s stock valued at $867,377,000 after purchasing an additional 3,875,280 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Canadian Imperial Bank of Commerce by 3.3% in the second quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock valued at $342,946,000 after purchasing an additional 228,130 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.2 %

Shares of Canadian Imperial Bank of Commerce stock traded down $0.11 during trading hours on Wednesday, reaching $63.06. The stock had a trading volume of 16,708 shares, compared to its average volume of 1,432,000. The firm has a market capitalization of $59.57 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.82 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 1 year low of $34.85 and a 1 year high of $63.53. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $60.20 and a two-hundred day simple moving average of $52.96.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.36 earnings per share for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were given a dividend of $0.652 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a yield of 4.14%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.26%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CM. UBS Group began coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. Desjardins upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. Finally, Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $81.00.

About Canadian Imperial Bank of Commerce

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.