Andra AP fonden Decreases Stock Holdings in Canadian Imperial Bank of Commerce $CM

Andra AP fonden trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 39.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 231,300 shares of the bank's stock after selling 152,800 shares during the quarter. Andra AP fonden's holdings in Canadian Imperial Bank of Commerce were worth $20,958,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $11,217,000. Mackenzie Financial Corp raised its position in shares of Canadian Imperial Bank of Commerce by 1.1% in the 3rd quarter. Mackenzie Financial Corp now owns 6,380,638 shares of the bank's stock valued at $509,763,000 after purchasing an additional 67,738 shares during the last quarter. Legal & General Group Plc raised 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 valued at $587,790,000 after purchasing an additional 125,069 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 34.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,686,816 shares of the bank's stock valued at $134,760,000 after purchasing an additional 435,799 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 6.5% in the 4th quarter. Intech Investment Management LLC now owns 343,828 shares of the bank's stock valued at $31,211,000 after purchasing an additional 21,078 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at $111.83 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $67.46 and a 12-month high of $117.05. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $102.09 billion, a PE ratio of 15.36, a P/E/G ratio of 1.18 and a beta of 1.02. The firm has a 50 day moving average of $108.51 and a two-hundred day moving average of $99.02.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The company had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the firm posted $2.05 EPS. Canadian Imperial Bank of Commerce's revenue for the quarter was up 14.0% compared to the same quarter last year. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.8%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 43.13%.

Wall Street Analysts Forecast Growth

CM has been the subject of several research analyst reports. Zacks Research lowered shares of Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Barclays reaffirmed an "overweight" rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, June 1st. Scotiabank lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada increased their price objective on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of "Hold" and a consensus target price of $167.00.

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.

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