Canadian Imperial Bank of Commerce $CM Shares Sold by Capital International Inc. CA

Capital International Inc. CA decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 20.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,211 shares of the bank's stock after selling 11,713 shares during the quarter. Capital International Inc. CA's holdings in Canadian Imperial Bank of Commerce were worth $4,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CM. Sequoia Financial Advisors LLC lifted 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 buying an additional 114 shares during the last quarter. Sivia Capital Partners LLC lifted its position in 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 during the last quarter. Parallel Advisors LLC lifted its position in 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 during the last quarter. McIlrath & Eck LLC lifted its position in Canadian Imperial Bank of Commerce by 7.1% in the fourth 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 last quarter. Finally, Bridgewater Advisors Inc. lifted its position in Canadian Imperial Bank of Commerce by 4.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank's stock valued at $311,000 after buying an additional 138 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Jefferies Financial Group reissued a "hold" rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Weiss Ratings cut shares of Canadian Imperial Bank of Commerce from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday. Scotiabank lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Monday, June 1st. Barclays restated an "overweight" rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Finally, Royal Bank Of Canada upped their target price on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $167.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $109.61 on Tuesday. The firm has a market capitalization of $100.05 billion, a P/E ratio of 15.06, a P/E/G ratio of 1.17 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 52 week low of $67.46 and a 52 week high of $117.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm's 50 day moving average is $107.44 and its two-hundred day moving average is $98.45.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, beating the consensus estimate 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 net margin of 15.84% and a return on equity of 16.31%. The firm's revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. Research analysts forecast that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 43.13%.

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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