Galibier Capital Management Ltd. Has $24.49 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Galibier Capital Management Ltd. lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,299 shares of the bank's stock after selling 136,399 shares during the quarter. Canadian Imperial Bank of Commerce accounts for approximately 7.0% of Galibier Capital Management Ltd.'s portfolio, making the stock its 5th largest position. Galibier Capital Management Ltd.'s holdings in Canadian Imperial Bank of Commerce were worth $24,487,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CM. Massmutual Trust Co. FSB ADV raised its position in shares of Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock worth $56,000 after purchasing an additional 171 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Canadian Imperial Bank of Commerce by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after buying an additional 194 shares in the last quarter. PDS Planning Inc raised its position in Canadian Imperial Bank of Commerce by 4.7% in the 3rd quarter. PDS Planning Inc now owns 4,978 shares of the bank's stock valued at $305,000 after buying an additional 224 shares during the last quarter. MML Investors Services LLC lifted its stake in Canadian Imperial Bank of Commerce by 0.5% during the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank's stock valued at $2,699,000 after acquiring an additional 237 shares in the last quarter. Finally, Prospera Private Wealth LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 3.2% in the 3rd quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank's stock worth $643,000 after acquiring an additional 330 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Performance

CM traded down $0.11 during midday trading on Friday, reaching $62.61. The company had a trading volume of 1,632,831 shares, compared to its average volume of 862,763. The business has a 50-day moving average price of $64.22 and a two-hundred day moving average price of $59.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 12-month low of $43.86 and a 12-month high of $67.45. The stock has a market cap of $59.00 billion, a PE ratio of 11.70, a P/E/G ratio of 1.64 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be paid a $0.6912 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a dividend yield of 4.42%. Canadian Imperial Bank of Commerce's payout ratio is presently 51.22%.

Analysts Set New Price Targets

Several research firms recently weighed in on CM. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Monday, January 6th. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $92.00.

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.