Guardian Capital LP Sells 31,467 Shares of Canadian Imperial Bank of Commerce $CM

Guardian Capital LP cut its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,113,740 shares of the bank’s stock after selling 31,467 shares during the quarter. Canadian Imperial Bank of Commerce accounts for about 2.9% of Guardian Capital LP’s investment portfolio, making the stock its 6th largest holding. Guardian Capital LP owned 0.12% of Canadian Imperial Bank of Commerce worth $89,018,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CM. Canerector Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 11,021.0% in the 3rd quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock valued at $1,776,913,000 after purchasing an additional 22,042,000 shares during the period. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter worth approximately $730,245,000. The Manufacturers Life Insurance Company grew its position in Canadian Imperial Bank of Commerce by 130.2% during the second quarter. The Manufacturers Life Insurance Company now owns 7,354,644 shares of the bank’s stock valued at $519,312,000 after purchasing an additional 4,160,060 shares in the last quarter. Public Sector Pension Investment Board grew its position in Canadian Imperial Bank of Commerce by 51.8% during the second quarter. Public Sector Pension Investment Board now owns 7,106,008 shares of the bank’s stock valued at $503,383,000 after purchasing an additional 2,425,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Canadian Imperial Bank of Commerce by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock valued at $2,939,385,000 after buying an additional 1,382,123 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $99.61 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $92.08 billion, a PE ratio of 14.52, a PEG ratio of 1.04 and a beta of 1.00. The firm’s 50 day moving average price is $95.01 and its 200 day moving average price is $87.26. Canadian Imperial Bank of Commerce has a twelve month low of $53.62 and a twelve month high of $105.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.20%. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Friday, March 27th will be issued a $1.07 dividend. The ex-dividend date is Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a yield of 4.3%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 44.61%.

Analysts Set New Price Targets

CM has been the subject of a number of research analyst reports. Barclays upgraded shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, January 21st. Zacks Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Raymond James Financial began coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Profile

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.