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Lincluden Management Ltd. Has $30.72 Million Holdings in Canadian Imperial Bank of Commerce $CM

Canadian Imperial Bank of Commerce logo with Finance background

Key Points

  • Lincluden Management Ltd. has reduced its holdings in Canadian Imperial Bank of Commerce by 2.1%, holding 433,144 shares worth approximately $30.72 million, making it the fund's 10th largest holding.
  • Canadian Imperial Bank of Commerce reported earnings of $1.57 per share for the last quarter, exceeding expectations, with revenue growth of 3.3% year-over-year.
  • The bank has announced an increase in its quarterly dividend from $0.70 to $0.97 per share, representing a yield of 4.9% for shareholders.
  • Five stocks we like better than Canadian Imperial Bank of Commerce.

Lincluden Management Ltd. lowered its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 433,144 shares of the bank's stock after selling 9,219 shares during the period. Canadian Imperial Bank of Commerce comprises about 3.4% of Lincluden Management Ltd.'s holdings, making the stock its 10th largest holding. Lincluden Management Ltd.'s holdings in Canadian Imperial Bank of Commerce were worth $30,718,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CM. Wealth Enhancement Advisory Services LLC lifted its stake in Canadian Imperial Bank of Commerce by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after purchasing an additional 194 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 5,530.0% in the first quarter. GAMMA Investing LLC now owns 20,437 shares of the bank's stock worth $1,151,000 after buying an additional 20,074 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 51.1% in the first quarter. Farther Finance Advisors LLC now owns 902 shares of the bank's stock worth $51,000 after buying an additional 305 shares during the period. SG Americas Securities LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the first quarter worth about $530,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Canadian Imperial Bank of Commerce by 7.5% in the first quarter. Assenagon Asset Management S.A. now owns 71,765 shares of the bank's stock worth $4,036,000 after buying an additional 4,999 shares during the period. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Down 0.2%

Shares of NYSE:CM opened at $79.82 on Friday. Canadian Imperial Bank of Commerce has a 1 year low of $53.62 and a 1 year high of $82.23. The company has a market cap of $74.20 billion, a PE ratio of 13.48, a P/E/G ratio of 1.70 and a beta of 1.03. 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's 50-day moving average is $77.34 and its 200 day moving average is $69.99.

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

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.97 per share. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. The ex-dividend date is Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.9%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 47.64%.

Analyst Upgrades and Downgrades

CM has been the topic of several analyst reports. Royal Bank Of Canada lifted their price objective 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday. Finally, Wall Street Zen downgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Saturday, October 4th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $107.50.

Get Our Latest Stock Analysis on Canadian Imperial Bank of Commerce

About Canadian Imperial Bank of Commerce

(Free Report)

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.

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Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM.

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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