Jones Collombin Investment Counsel Inc Lowers stake in Canadian Imperial Bank of Commerce (USA) (CM)

Canadian Imperial Bank of Commerce (USA) (CM) : Jones Collombin Investment Counsel Inc reduced its stake in Canadian Imperial Bank of Commerce (USA) by 7.36% during the most recent quarter end. The investment management company now holds a total of 5,285 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $403,140 after selling 420 shares in Canadian Imperial Bank of Commerce (USA) , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Canadian Imperial Bank of Commerce (USA) makes up approximately 0.13% of Jones Collombin Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Howe Rusling Inc boosted its stake in CM in the latest quarter, The investment management firm added 6,178 additional shares and now holds a total of 82,286 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $6,276,776. Canadian Imperial Bank of Commerce (USA) makes up approx 1.38% of Howe Rusling Inc’s portfolio.Msi Financial Services Inc boosted its stake in CM in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 1,252 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $95,077.Capstone Asset Management Co boosted its stake in CM in the latest quarter, The investment management firm added 1,440 additional shares and now holds a total of 38,834 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $2,919,152. Canadian Imperial Bank of Commerce (USA) makes up approx 0.09% of Capstone Asset Management Co’s portfolio. Simplex Trading sold out all of its stake in CM during the most recent quarter. The investment firm sold 3,985 shares of CM which is valued $299,313.Cardinal Capital Management reduced its stake in CM by selling 17,690 shares or 2.59% in the most recent quarter. The Hedge Fund company now holds 665,438 shares of CM which is valued at $50,453,509. Canadian Imperial Bank of Commerce (USA) makes up approx 5.72% of Cardinal Capital Management’s portfolio.

Canadian Imperial Bank of Commerce (USA) opened for trading at $76.67 and hit $77.03 on the upside on Friday, eventually ending the session at $76.28, with a gain of 0.45% or 0.34 points. The heightened volatility saw the trading volume jump to 4,21,812 shares. Company has a market cap of $30,118 M.

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.

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