Canadian Imperial Bank of Commerce $CM Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 20.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 706,066 shares of the bank’s stock after selling 183,835 shares during the quarter. First Trust Advisors LP’s holdings in Canadian Imperial Bank of Commerce were worth $50,038,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in Canadian Imperial Bank of Commerce by 5.1% during the 2nd quarter. Parallel Advisors LLC now owns 3,288 shares of the bank’s stock worth $233,000 after buying an additional 160 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Canadian Imperial Bank of Commerce by 0.3% during the second quarter. Janney Montgomery Scott LLC now owns 53,477 shares of the bank’s stock worth $3,788,000 after acquiring an additional 173 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 12.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after acquiring an additional 193 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 5.3% in the first quarter. Benjamin Edwards Inc. now owns 4,320 shares of the bank’s stock valued at $243,000 after purchasing an additional 216 shares during the period. Finally, PDS Planning Inc grew its stake in Canadian Imperial Bank of Commerce by 4.0% during the 2nd quarter. PDS Planning Inc now owns 5,655 shares of the bank’s stock worth $401,000 after purchasing an additional 217 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $90.31 on Tuesday. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $91.57. The firm has a market capitalization of $83.88 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $83.65 and its 200 day moving average price is $76.92.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter last year, the company posted $1.91 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Monday, December 29th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.7%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 46.31%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CM shares. Raymond James Financial started coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They set a “market perform” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Finally, Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

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.