Canadian Imperial Bank of Commerce $CM Shares Sold by Capital International Inc. CA

Capital International Inc. CA lowered its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,211 shares of the bank’s stock after selling 11,713 shares during the period. Capital International Inc. CA’s holdings in Canadian Imperial Bank of Commerce were worth $4,102,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Canadian Imperial Bank of Commerce by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 43,097,841 shares of the bank’s stock worth $3,907,078,000 after purchasing an additional 876,974 shares during the period. TD Asset Management Inc grew its position in Canadian Imperial Bank of Commerce by 1.1% in the 3rd quarter. TD Asset Management Inc now owns 22,752,807 shares of the bank’s stock valued at $1,818,556,000 after buying an additional 249,722 shares during the last quarter. Canerector Inc. grew its position in Canadian Imperial Bank of Commerce by 11,021.0% in the 3rd quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock valued at $1,776,913,000 after buying an additional 22,042,000 shares during the last quarter. Cibc World Market Inc. grew its position in Canadian Imperial Bank of Commerce by 1.3% in the 4th quarter. Cibc World Market Inc. now owns 12,010,183 shares of the bank’s stock valued at $1,088,243,000 after buying an additional 158,634 shares during the last quarter. Finally, Norges Bank purchased a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at $958,383,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Scotiabank lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Monday, June 1st. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Weiss Ratings downgraded Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Finally, Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $167.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $109.61 on Tuesday. Canadian Imperial Bank of Commerce has a one year low of $67.46 and a one year high of $117.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The business has a fifty day moving average of $107.44 and a two-hundred day moving average of $98.45. The company has a market cap of $100.05 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 1.17 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The company had revenue of $5.89 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter last year, the company earned $2.05 earnings per share. Canadian Imperial Bank of Commerce’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is 43.13%.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.