Value Partners Investments Inc. Decreases Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Value Partners Investments Inc. decreased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 92.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,806 shares of the bank's stock after selling 982,535 shares during the period. Canadian Imperial Bank of Commerce comprises 2.9% of Value Partners Investments Inc.'s portfolio, making the stock its 11th largest holding. Value Partners Investments Inc.'s holdings in Canadian Imperial Bank of Commerce were worth $5,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CM. Norges Bank bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $570,477,000. Capital International Investors acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $424,386,000. FIL Ltd boosted its holdings in Canadian Imperial Bank of Commerce by 53.6% during the fourth quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock valued at $783,613,000 after purchasing an additional 4,321,451 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Canadian Imperial Bank of Commerce by 37.3% in the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock worth $508,566,000 after buying an additional 2,185,262 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Canadian Imperial Bank of Commerce by 41.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock worth $431,952,000 after buying an additional 1,990,520 shares during the period. Hedge funds and other institutional investors own 49.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CM shares. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. BMO Capital Markets raised their price target on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Friday. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Finally, National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Trading Down 0.3%

NYSE:CM traded down $0.17 on Friday, reaching $67.69. 374,405 shares of the stock traded hands, compared to its average volume of 1,134,918. The firm has a market capitalization of $63.64 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1-year low of $46.99 and a 1-year high of $69.88. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company's 50 day moving average is $61.37 and its 200-day moving average is $61.98.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.10. The company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.01% and a net margin of 11.10%. Canadian Imperial Bank of Commerce's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 earnings per share. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Profile

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.