Williamson Legacy Group LLC Sells 11,632 Shares of Canadian Imperial Bank of Commerce $CM

Williamson Legacy Group LLC lessened its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 63.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,715 shares of the bank’s stock after selling 11,632 shares during the quarter. Williamson Legacy Group LLC’s holdings in Canadian Imperial Bank of Commerce were worth $608,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CM. Larson Financial Group LLC increased its stake in Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after buying an additional 219 shares during the period. Guerra Advisors Inc purchased a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth about $35,000. Lodestone Wealth Management LLC purchased a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth about $37,000. Smartleaf Asset Management LLC increased its stake in Canadian Imperial Bank of Commerce by 128.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock worth $58,000 after buying an additional 406 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Canadian Imperial Bank of Commerce by 87.0% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after buying an additional 400 shares during the period. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 0.2%

NYSE CM opened at $115.77 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $106.31 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. The company’s 50-day simple moving average is $105.10 and its two-hundred day simple moving average is $96.97. Canadian Imperial Bank of Commerce has a one year low of $67.28 and a one year high of $116.89.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. The business 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%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 7.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Canadian Imperial Bank of Commerce

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.