Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 14.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,200 shares of the bank's stock after selling 29,200 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Canadian Imperial Bank of Commerce were worth $9,798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Operose Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $30,000. Sandy Spring Bank acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $32,000. IFP Advisors Inc grew its position in Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after buying an additional 404 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $44,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CM has been the topic of a number of research reports. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Scotiabank assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Royal Bank Of Canada increased their target price on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of "Moderate Buy" and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Trading Down 0.2%

Shares of CM stock traded down $0.16 during mid-day trading on Wednesday, hitting $68.44. 958,708 shares of the company's stock were exchanged, compared to its average volume of 1,106,811. Canadian Imperial Bank of Commerce has a fifty-two week low of $47.11 and a fifty-two week high of $69.88. The stock has a 50-day simple moving average of $64.37 and a two-hundred day simple moving average of $62.29. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock has a market cap of $64.34 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.49 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the company earned $1.75 EPS. The firm's quarterly revenue was up 13.9% on a year-over-year basis. Equities analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be given a $0.7024 dividend. The ex-dividend date is Friday, June 27th. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a dividend yield of 4.11%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 47.10%.

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.