Natixis Advisors LLC Has $2.26 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Key Points

• Natixis Advisors LLC reduced its holdings in Canadian Imperial Bank of Commerce by 19.6% in Q1, now owning 40,081 shares valued at approximately $2.26 million.
• The bank reported a quarterly EPS of $1.44, exceeding analysts' expectation of $1.34, with revenues reaching $5.09 billion, indicating a 13.9% year-over-year increase.
• Canadian Imperial Bank of Commerce has increased its quarterly dividend to $0.7024, reflecting an annualized yield of 3.9%, up from the previous dividend of $0.67.

Natixis Advisors LLC reduced its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 19.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 40,081 shares of the bank's stock after selling 9,768 shares during the quarter. Natixis Advisors LLC's holdings in Canadian Imperial Bank of Commerce were worth $2,257,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. XTX Topco Ltd boosted its position in Canadian Imperial Bank of Commerce by 24.8% during the first quarter. XTX Topco Ltd now owns 8,730 shares of the bank's stock valued at $491,000 after acquiring an additional 1,735 shares during the last quarter. Federated Hermes Inc. increased its holdings in Canadian Imperial Bank of Commerce by 3.1% in the first quarter. Federated Hermes Inc. now owns 988,399 shares of the bank's stock worth $55,647,000 after purchasing an additional 29,387 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Canadian Imperial Bank of Commerce by 223.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,293,763 shares of the bank's stock valued at $72,767,000 after buying an additional 894,035 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 45.1% during the 1st quarter. HB Wealth Management LLC now owns 5,227 shares of the bank's stock worth $294,000 after buying an additional 1,624 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 438,371 shares of the bank's stock worth $24,680,000 after buying an additional 20,441 shares in the last quarter. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Down 0.3%

NYSE:CM opened at $71.96 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a one year low of $49.84 and a one year high of $74.63. The company has a market cap of $67.03 billion, a PE ratio of 12.65, a PEG ratio of 1.57 and a beta of 1.06. The firm has a 50-day moving average of $70.96 and a 200-day moving average of $64.32.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.10. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The company's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. As a group, equities research 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 company also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, June 27th were given a $0.7024 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Friday, June 27th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's payout ratio is currently 49.56%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CM. Wall Street Zen lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Royal Bank Of Canada upped their price objective on shares of 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. Scotiabank started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. BMO Capital Markets boosted their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of "Hold" and an average price target of $109.00.

Canadian Imperial Bank of Commerce Company 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.

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