Galibier Capital Management Ltd. Decreases Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Galibier Capital Management Ltd. reduced its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 35.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 512,922 shares of the bank's stock after selling 279,639 shares during the period. Canadian Imperial Bank of Commerce accounts for about 6.4% of Galibier Capital Management Ltd.'s investment portfolio, making the stock its 10th largest position. 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 reporting period.

Several other hedge funds also recently modified their holdings of CM. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 8.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,361 shares of the bank's stock worth $1,017,000 after purchasing an additional 674 shares during the last quarter. US Bancorp DE boosted its position in shares of Canadian Imperial Bank of Commerce by 14.7% in the first quarter. US Bancorp DE now owns 4,323 shares of the bank's stock worth $527,000 after acquiring an additional 554 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 24.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,630 shares of the bank's stock worth $807,000 after acquiring an additional 1,287 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 20.4% in the first quarter. Private Advisor Group LLC now owns 4,512 shares of the bank's stock worth $549,000 after acquiring an additional 763 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 6.4% in the first quarter. BlackRock Inc. now owns 308,427 shares of the bank's stock worth $37,532,000 after acquiring an additional 18,653 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

Shares of CM traded up $0.06 during mid-day trading on Wednesday, reaching $49.88. 1,090,874 shares of the stock traded hands, compared to its average volume of 1,908,881. The firm has a market cap of $46.76 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 2.37 and a beta of 1.06. The stock 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. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.10. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.47 billion. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be paid a $0.6634 dividend. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce's payout ratio is 26.45%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CM. Barclays began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an "underweight" rating on the stock. National Bank Financial raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, December 20th. Bank of America raised shares of Canadian Imperial Bank of Commerce from an "underperform" rating to a "neutral" rating in a research report on Monday, December 18th. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to a "sector outperform" rating in a research report on Tuesday, February 20th. Finally, Jefferies Financial Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

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.