Bristol Gate Capital Partners Inc. Takes $579,000 Position in Canadian Imperial Bank of Commerce $CM

Bristol Gate Capital Partners Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,031 shares of the bank’s stock, valued at approximately $579,000. Canadian Imperial Bank of Commerce makes up 0.0% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 29th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC raised its position in Canadian Imperial Bank of Commerce by 1.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock valued at $880,000 after purchasing an additional 114 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 3.1% in the fourth quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock valued at $347,000 after buying an additional 116 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 3.5% in the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock valued at $272,000 after buying an additional 116 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 7.1% during the 4th quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock valued at $175,000 after buying an additional 128 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of Canadian Imperial Bank of Commerce by 12.7% during the 4th quarter. Fifth Third Bancorp now owns 1,337 shares of the bank’s stock valued at $121,000 after buying an additional 151 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $118.44 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a fifty-two week low of $72.61 and a fifty-two week high of $124.86. The business has a 50 day moving average price of $117.24 and a two-hundred day moving average price of $108.67. The firm has a market cap of $108.11 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.20 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.Canadian Imperial Bank of Commerce’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 EPS. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

CM has been the subject of a number of analyst reports. Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. TD Securities reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Canadian Imperial Bank of Commerce 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.