Bristol Gate Capital Partners Inc. Makes New Investment in Canadian Imperial Bank of Commerce $CM

Bristol Gate Capital Partners Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,031 shares of the bank’s stock, valued at approximately $579,000. Canadian Imperial Bank of Commerce makes up about 0.0% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 29th biggest holding.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after buying an additional 219 shares during the period. EFG International AG purchased a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $35,000. Bell Investment Advisors Inc acquired a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $36,000. Global Assets Advisory LLC acquired a new position in Canadian Imperial Bank of Commerce in the 1st quarter valued at $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Canadian Imperial Bank of Commerce by 87.0% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 3.1%

Shares of NYSE CM opened at $118.44 on Wednesday. The stock has a market capitalization of $108.11 billion, a PE ratio of 16.27, a P/E/G ratio of 1.20 and a beta of 1.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $117.24 and a 200-day moving average of $108.67. Canadian Imperial Bank of Commerce has a 52-week low of $72.61 and a 52-week high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The business had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the company posted $2.05 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CM shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods initiated coverage on Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They issued a “market perform” rating on the stock. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $167.00.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.