Legg Mason Asset Management (japan) Ltd. buys $1,470,714 stake in Canadian Imperial Bank of Commerce (USA) (CM)

Canadian Imperial Bank of Commerce (USA) (CM) : Legg Mason Asset Management (japan) Ltd. scooped up 10,100 additional shares in Canadian Imperial Bank of Commerce (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 19,400 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $1,470,714.Canadian Imperial Bank of Commerce (USA) makes up approximately 1.45% of Legg Mason Asset Management (japan) Ltd.’s portfolio.

Other Hedge Funds, Including , Pinebridge Investments reduced its stake in CM by selling 1,672 shares or 19.06% in the most recent quarter. The Hedge Fund company now holds 7,100 shares of CM which is valued at $538,251. Canadian Imperial Bank of Commerce (USA) makes up approx 0.02% of Pinebridge Investments’s portfolio. Riverhead Capital Management added CM to its portfolio by purchasing 1,700 company shares during the most recent quarter which is valued at $128,911. Canadian Imperial Bank of Commerce (USA) makes up approx 0.01% of Riverhead Capital Management’s portfolio.Emerald Acquisition Ltd. boosted its stake in CM in the latest quarter, The investment management firm added 118,585 additional shares and now holds a total of 1,570,458 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $118,569,579. Canadian Imperial Bank of Commerce (USA) makes up approx 0.23% of Emerald Acquisition Ltd.’s portfolio.Assetmark Inc boosted its stake in CM in the latest quarter, The investment management firm added 202 additional shares and now holds a total of 285 shares of Canadian Imperial Bank of Commerce (USA) which is valued at $20,868.Cidel Asset Management Inc reduced its stake in CM by selling 320,708 shares or 48.42% in the most recent quarter. The Hedge Fund company now holds 341,674 shares of CM which is valued at $25,017,370. Canadian Imperial Bank of Commerce (USA) makes up approx 1.42% of Cidel Asset Management Inc’s portfolio.

Canadian Imperial Bank of Commerce (USA) opened for trading at $76.63 and hit $77.28 on the upside on Monday, eventually ending the session at $77.04, with a gain of 0.40% or 0.31 points. The heightened volatility saw the trading volume jump to 4,86,238 shares. Company has a market cap of $30,418 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). Canadian Imperial Bank of Commerce (USA) was Initiated by BofA/Merrill to “Underperform” on Nov 1, 2016. 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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