Galibier Capital Management Ltd. Buys 48,961 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Galibier Capital Management Ltd. boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 447,820 shares of the bank’s stock after buying an additional 48,961 shares during the period. Canadian Imperial Bank of Commerce comprises 11.8% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 2nd largest holding. Galibier Capital Management Ltd. owned about 0.10% of Canadian Imperial Bank of Commerce worth $37,318,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC grew its stake in Canadian Imperial Bank of Commerce by 78.3% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 451 shares of the bank’s stock valued at $37,000 after acquiring an additional 198 shares in the last quarter. Liberty Wealth Management LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 50.9% in the 3rd quarter. Liberty Wealth Management LLC now owns 637 shares of the bank’s stock valued at $53,000 after buying an additional 215 shares in the last quarter. Private Capital Group LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 116.9% in the 2nd quarter. Private Capital Group LLC now owns 616 shares of the bank’s stock valued at $54,000 after buying an additional 332 shares in the last quarter. Cornerstone Advisors Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 34.1% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,054 shares of the bank’s stock valued at $87,000 after buying an additional 268 shares in the last quarter. Finally, Quest Capital Management Inc. ADV bought a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $116,000. Hedge funds and other institutional investors own 44.31% of the company’s stock.

Several equities research analysts recently commented on the company. Credit Suisse Group lowered their price target on Canadian Imperial Bank of Commerce from $105.00 to $104.00 and set a “neutral” rating for the company in a research note on Friday, December 6th. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday. ValuEngine raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Canaccord Genuity lowered their price target on Canadian Imperial Bank of Commerce from $112.50 to $108.00 and set a “hold” rating for the company in a research note on Friday, December 6th. Finally, Citigroup cut Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. Twelve equities research analysts have rated the stock with a hold rating, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average price target of $113.67.

Canadian Imperial Bank of Commerce stock traded down $0.47 during trading hours on Tuesday, reaching $82.37. 19,847 shares of the company were exchanged, compared to its average volume of 317,322. Canadian Imperial Bank of Commerce has a 12 month low of $73.20 and a 12 month high of $87.62. The firm has a market cap of $36.83 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.81 and a beta of 1.14. The stock has a 50-day moving average of $83.85 and a 200 day moving average of $81.60. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.13.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, December 5th. The bank reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.52. Canadian Imperial Bank of Commerce had a return on equity of 15.57% and a net margin of 17.72%. The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the company earned $3.00 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 9.11 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be issued a dividend of $1.0908 per share. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 5.30%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.38%.

Canadian Imperial Bank of Commerce Company Profile

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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