Value Partners Investments Inc. Has $61.53 Million Position in Canadian Imperial Bank of Commerce $CM

Key Points

• Value Partners Investments Inc. reduced its holdings in Canadian Imperial Bank of Commerce (CM) by 0.4%, owning 868,441 shares valued at approximately $61.5 million after selling 3,259 shares.
• The bank reported $1.57 earnings per share for the last quarter, surpassing analysts' expectations, with quarterly revenue increasing by 3.3% year-over-year.
• Canadian Imperial Bank of Commerce announced a quarterly dividend increase to $0.97, reflecting a 4.9% dividend yield, and is set to be paid on October 28th.

Value Partners Investments Inc. trimmed its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 868,441 shares of the bank's stock after selling 3,259 shares during the period. Canadian Imperial Bank of Commerce comprises approximately 4.8% of Value Partners Investments Inc.'s investment portfolio, making the stock its 6th biggest position. Value Partners Investments Inc. owned approximately 0.09% of Canadian Imperial Bank of Commerce worth $61,529,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in Canadian Imperial Bank of Commerce by 1,036.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,048,200 shares of the bank's stock worth $58,942,000 after acquiring an additional 956,000 shares during the period. Intech Investment Management LLC grew its holdings in Canadian Imperial Bank of Commerce by 64.4% during the 1st quarter. Intech Investment Management LLC now owns 275,959 shares of the bank's stock worth $15,521,000 after acquiring an additional 108,110 shares during the period. Zurich Insurance Group Ltd FI grew its holdings in Canadian Imperial Bank of Commerce by 1,784.1% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 685,827 shares of the bank's stock worth $38,622,000 after acquiring an additional 649,427 shares during the period. Sciencast Management LP acquired a new stake in Canadian Imperial Bank of Commerce during the 1st quarter worth about $546,000. Finally, Goldman Sachs Group Inc. grew its holdings in Canadian Imperial Bank of Commerce by 405.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank's stock worth $292,032,000 after acquiring an additional 4,160,938 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank Of Canada increased their price target on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $107.50.

Canadian Imperial Bank of Commerce Trading Up 1.3%

Canadian Imperial Bank of Commerce stock traded up $1.03 during mid-day trading on Friday, hitting $81.47. The company's stock had a trading volume of 531,832 shares, compared to its average volume of 1,174,689. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $75.73 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.73 and a beta of 1.03. The business has a 50 day moving average price of $74.85 and a 200-day moving average price of $67.25. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $81.59.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 earnings per share. As a group, analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th will be paid a $0.97 dividend. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. This represents a $3.88 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, September 29th. Canadian Imperial Bank of Commerce's payout ratio is presently 47.30%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.