I.g. Investment Management Ltd. Lowers stake in Canadian Imperial Bank of Commerce (USA) (CM)

Canadian Imperial Bank of Commerce (USA) (CM) : I.g. Investment Management Ltd. reduced its stake in Canadian Imperial Bank of Commerce (USA) by 0.35% during the most recent quarter end. The investment management company now holds a total of 14,539,385 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $1,137 Million after selling 50,926 shares in Canadian Imperial Bank of Commerce (USA) , the firm said in a disclosure report filed with the SEC on May 13, 2016.Canadian Imperial Bank of Commerce (USA) makes up approximately 4.56% of I.g. Investment Management Ltd.’s portfolio.

Other Hedge Funds, Including , Citadel Advisors sold out all of its stake in CM during the most recent quarter. The investment firm sold 8,600 shares of CM which is valued $672,520. Mackenzie Financial Corp sold out all of its stake in CM during the most recent quarter. The investment firm sold 3,121,189 shares of CM which is valued $244.1 Million.Ubs Asset Management Americas Inc boosted its stake in CM in the latest quarter, The investment management firm added 94,408 additional shares and now holds a total of 1,139,269 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $89.1 Million. Canadian Imperial Bank of Commerce (USA) makes up approx 0.11% of Ubs Asset Management Americas Inc’s portfolio.Janney Montgomery Scott reduced its stake in CM by selling 1,147 shares or 21.69% in the most recent quarter. The Hedge Fund company now holds 4,140 shares of CM which is valued at $323,748. Canadian Imperial Bank of Commerce (USA) makes up approx 0.01% of Janney Montgomery Scott’s portfolio.Hillsdale Investment Management boosted its stake in CM in the latest quarter, The investment management firm added 1,750 additional shares and now holds a total of 31,680 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $2.5 Million. Canadian Imperial Bank of Commerce (USA) makes up approx 0.80% of Hillsdale Investment Management’s portfolio.

Canadian Imperial Bank of Commerce (USA) opened for trading at $78.58 and hit $79.61 on the upside on Wednesday, eventually ending the session at $79.43, with a gain of 1.57% or 1.23 points. The heightened volatility saw the trading volume jump to 4,17,541 shares. Company has a market cap of $31,389 M.

On the company’s financial health, Canadian Imperial Bank of Commerce (USA) reported $2.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 26, 2016. Analyst had a consensus of $2.32.Analysts expectations of $ 3643.32.

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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