Triasima Portfolio Management inc. lowered its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,086 shares of the bank's stock after selling 3,750 shares during the quarter. Canadian Imperial Bank of Commerce comprises approximately 2.5% of Triasima Portfolio Management inc.'s investment portfolio, making the stock its 5th biggest position. Triasima Portfolio Management inc.'s holdings in Canadian Imperial Bank of Commerce were worth $13,607,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in CM. Goldman Sachs Group Inc. grew its position in Canadian Imperial Bank of Commerce by 405.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank's stock worth $292,032,000 after buying an additional 4,160,938 shares in the last quarter. JPMorgan Chase & Co. grew its position in Canadian Imperial Bank of Commerce by 31.6% during the first quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank's stock worth $595,762,000 after buying an additional 2,538,808 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at $124,797,000. Canada Pension Plan Investment Board boosted its holdings in shares of Canadian Imperial Bank of Commerce by 23.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,055,999 shares of the bank's stock valued at $340,721,000 after purchasing an additional 1,133,715 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Canadian Imperial Bank of Commerce by 27.2% in the 1st quarter. Public Sector Pension Investment Board now owns 4,681,008 shares of the bank's stock valued at $263,281,000 after purchasing an additional 1,000,400 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on CM. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Canadian Imperial Bank of Commerce in a report on Saturday, September 27th. Wall Street Zen downgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Royal Bank Of Canada raised their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $107.50.
View Our Latest Stock Analysis on CM
Canadian Imperial Bank of Commerce Trading Down 0.1%
NYSE CM opened at $81.61 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a twelve month low of $53.62 and a twelve month high of $82.23. The company has a market cap of $75.86 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.74 and a beta of 1.03. The business's fifty day moving average is $76.83 and its 200 day moving average is $69.53.
Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate 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 last year, the business posted $1.93 EPS. Canadian Imperial Bank of Commerce's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side 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 Tuesday, October 28th. Investors of record on Monday, September 29th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.88 annualized dividend and a yield of 4.8%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce's dividend payout ratio is 47.64%.
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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