Williamson Legacy Group LLC Cuts Stock Holdings in Canadian Imperial Bank of Commerce $CM

Williamson Legacy Group LLC lowered its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 63.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,715 shares of the bank’s stock after selling 11,632 shares during the period. Williamson Legacy Group LLC’s holdings in Canadian Imperial Bank of Commerce were worth $608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 43,097,841 shares of the bank’s stock worth $3,907,078,000 after buying an additional 876,974 shares during the last quarter. TD Asset Management Inc grew its position in shares of Canadian Imperial Bank of Commerce by 1.1% in the 3rd quarter. TD Asset Management Inc now owns 22,752,807 shares of the bank’s stock worth $1,818,556,000 after buying an additional 249,722 shares during the last quarter. Canerector Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 11,021.0% in the 3rd quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock worth $1,776,913,000 after buying an additional 22,042,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Canadian Imperial Bank of Commerce by 10.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,349,841 shares of the bank’s stock worth $826,866,000 after buying an additional 980,811 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Canadian Imperial Bank of Commerce by 2.0% in the 4th quarter. Legal & General Group Plc now owns 6,475,253 shares of the bank’s stock worth $587,790,000 after buying an additional 125,069 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.2%

NYSE:CM opened at $115.77 on Wednesday. The company has a market cap of $106.31 billion, a PE ratio of 16.88, a P/E/G ratio of 1.21 and a beta of 1.05. Canadian Imperial Bank of Commerce has a twelve month low of $67.28 and a twelve month high of $116.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $105.10 and its two-hundred day moving average is $96.97.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.25. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $5.53 billion. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.69%. Canadian Imperial Bank of Commerce’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. Analysts anticipate that Canadian Imperial Bank of Commerce will post 7.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Weiss Ratings raised shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Finally, Scotiabank reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.