Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. reduced its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 22.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,836 shares of the bank's stock after selling 55,948 shares during the period. Canadian Imperial Bank of Commerce comprises 2.2% of Triasima Portfolio Management inc.'s holdings, making the stock its 8th biggest position. Triasima Portfolio Management inc.'s holdings in Canadian Imperial Bank of Commerce were worth $11,015,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. PDS Planning Inc boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock valued at $327,000 after acquiring an additional 189 shares during the last quarter. Gradient Investments LLC boosted its holdings in Canadian Imperial Bank of Commerce by 2.4% during the first quarter. Gradient Investments LLC now owns 8,278 shares of the bank's stock worth $466,000 after buying an additional 191 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings 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 buying an additional 194 shares in the last quarter. Private Trust Co. NA boosted its holdings in Canadian Imperial Bank of Commerce by 40.0% during the first quarter. Private Trust Co. NA now owns 781 shares of the bank's stock worth $44,000 after buying an additional 223 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Canadian Imperial Bank of Commerce by 7.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,977 shares of the bank's stock worth $251,000 after buying an additional 279 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CM shares. Royal Bank Of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Wall Street Zen downgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Friday. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Finally, Scotiabank started coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $109.00.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM traded up $0.27 during trading hours on Friday, reaching $73.29. 742,666 shares of the company were exchanged, compared to its average volume of 1,125,746. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock's 50-day moving average is $69.23 and its 200-day moving average is $63.32. The firm has a market cap of $68.40 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. Canadian Imperial Bank of Commerce has a twelve month low of $47.55 and a twelve month high of $73.52.

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

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be given a dividend of $0.7024 per share. 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 dividend on an annualized basis and a yield of 3.83%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 49.56%.

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.