Cardinal Capital Management Lowers stake in Canadian Imperial Bank of Commerce (USA) (CM)

Canadian Imperial Bank of Commerce (USA) (CM) : Cardinal Capital Management reduced its stake in Canadian Imperial Bank of Commerce (USA) by 2.59% during the most recent quarter end. The investment management company now holds a total of 665,438 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $50,453,509 after selling 17,690 shares in Canadian Imperial Bank of Commerce (USA) , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Canadian Imperial Bank of Commerce (USA) makes up approximately 5.72% of Cardinal Capital Management’s portfolio.

Other Hedge Funds, Including , Independent Portfolio Consultants reduced its stake in CM by selling 145 shares or 1.99% in the most recent quarter. The Hedge Fund company now holds 7,137 shares of CM which is valued at $541,127. Canadian Imperial Bank of Commerce (USA) makes up approx 0.17% of Independent Portfolio Consultants’s portfolio. Eqis Capital Management sold out all of its stake in CM during the most recent quarter. The investment firm sold 2,774 shares of CM which is valued $210,325.

Canadian Imperial Bank of Commerce (USA) closed down -1.15 points or -1.49% at $75.84 with 6,50,386 shares getting traded on Tuesday. Post opening the session at $76.96, the shares hit an intraday low of $75.56 and an intraday high of $77.01 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Canadian Imperial Bank of Commerce (USA) reported $2.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Aug 25, 2016. Analyst had a consensus of $2.35.Analysts expectations of $ 3719.89.During the same quarter in the previous year, the company posted $2.45 EPS.

Many Wall Street Analysts have commented on Canadian Imperial Bank of Commerce (USA). Company shares were Reiterated by RBC Capital Mkts on Aug 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 112 from a previous price target of $104 .

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.

Leave a Reply

Canadian Imperial Bank of Commerce (USA) - Is it time to Sell?

Top Brokerage Firms are advising their investors on Canadian Imperial Bank of Commerce (USA). Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.