Canadian Imperial Bank of Commerce $CM Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 55.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,925 shares of the bank’s stock after selling 7,453 shares during the period. Aigen Investment Management LP’s holdings in Canadian Imperial Bank of Commerce were worth $537,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $11,217,000. Mackenzie Financial Corp boosted its position in Canadian Imperial Bank of Commerce by 1.1% in the 3rd quarter. Mackenzie Financial Corp now owns 6,380,638 shares of the bank’s stock valued at $509,763,000 after buying an additional 67,738 shares during the last quarter. Legal & General Group Plc boosted its position in Canadian Imperial Bank of Commerce by 2.0% in the 4th quarter. Legal & General Group Plc now owns 6,475,253 shares of the bank’s stock valued at $587,790,000 after buying an additional 125,069 shares during the last quarter. Intech Investment Management LLC boosted its position in Canadian Imperial Bank of Commerce by 6.5% in the 4th quarter. Intech Investment Management LLC now owns 343,828 shares of the bank’s stock valued at $31,211,000 after buying an additional 21,078 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Canadian Imperial Bank of Commerce by 34.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,686,816 shares of the bank’s stock valued at $134,760,000 after buying an additional 435,799 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM opened at $113.68 on Tuesday. Canadian Imperial Bank of Commerce has a 12 month low of $68.32 and a 12 month high of $117.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $103.77 billion, a PE ratio of 15.61, a P/E/G ratio of 1.22 and a beta of 1.02. The company’s 50 day simple moving average is $109.20 and its 200 day simple moving average is $99.43.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data 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 net margin of 15.84% and a return on equity of 16.31%. The business had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter last year, the business earned $2.05 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be given a $1.07 dividend. The ex-dividend date is Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 3.8%. Canadian Imperial Bank of Commerce’s payout ratio is 43.13%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CM. Weiss Ratings cut shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 4th. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Royal Bank Of Canada raised their target price on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Scotiabank lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average target price of $167.00.

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.