Portland Investment Counsel Lowers stake in Canadian Imperial Bank of Commerce (USA) (CM)

Canadian Imperial Bank of Commerce (USA) (CM) : Portland Investment Counsel reduced its stake in Canadian Imperial Bank of Commerce (USA) by 58.63% during the most recent quarter end. The investment management company now holds a total of 12,700 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $993,140 after selling 18,000 shares in Canadian Imperial Bank of Commerce (USA) , the firm said in a disclosure report filed with the SEC on May 12, 2016.Canadian Imperial Bank of Commerce (USA) makes up approximately 1.91% of Portland Investment Counsel’s portfolio.

Other Hedge Funds, Including , Jarislowsky Fraser Ltd reduced its stake in CM by selling 5,573 shares or 15.02% in the most recent quarter. The Hedge Fund company now holds 31,540 shares of CM which is valued at $2.5 Million. Canadian Imperial Bank of Commerce (USA) makes up approx 0.02% of Jarislowsky Fraser Ltd’s portfolio.Provise Management Group reduced its stake in CM by selling 500 shares or 11.48% in the most recent quarter. The Hedge Fund company now holds 3,854 shares of CM which is valued at $301,383. Canadian Imperial Bank of Commerce (USA) makes up approx 0.06% of Provise Management Group’s portfolio.Tdam Usa reduced its stake in CM by selling 225 shares or 4.95% in the most recent quarter. The Hedge Fund company now holds 4,321 shares of CM which is valued at $329,736. Canadian Imperial Bank of Commerce (USA) makes up approx 0.02% of Tdam Usa’s portfolio.

Canadian Imperial Bank of Commerce (USA) opened for trading at $77.26 and hit $77.8 on the upside on Friday, eventually ending the session at $77.31, with a gain of 0.51% or 0.39 points. The heightened volatility saw the trading volume jump to 1,59,579 shares. Company has a market cap of $30,551 M.

On the company’s financial health, Canadian Imperial Bank of Commerce (USA) reported $2.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $2.38.Analysts expectations of $ 3649.05.

Canadian Imperial Bank of Commerce (CIBC) is a Canada-based financial institution. CIBC serves its clients through three strategic business units: Retail and Business Banking Wealth Management and Wholesale Banking. Its three main operating groups are supported by six functional groups: Technology and Operations; Corporate Development; Finance; Treasury; Administration; and Risk Management which form part of Corporate and Other. Retail and Business Banking provides financial advice banking investment and authorized insurance products and services from over 1100 branches mobile sales force telephone banking and online and mobile banking. Wealth Management provides relationship-based advisory services and a suite of investment solutions to meet the needs of institutional retail and high net worth clients. Wholesale Banking provides a range of credit capital market investment banking merchant banking and research products and services to the clients.

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