Andra AP fonden Sells 38,456 Shares of Canadian Imperial Bank of Commerce $CM

Andra AP fonden cut its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 16.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 192,844 shares of the bank’s stock after selling 38,456 shares during the quarter. Andra AP fonden’s holdings in Canadian Imperial Bank of Commerce were worth $18,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 1.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock valued at $880,000 after buying an additional 114 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Canadian Imperial Bank of Commerce by 3.1% in the 4th quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock worth $347,000 after acquiring an additional 116 shares during the last quarter. Parallel Advisors LLC lifted its position in Canadian Imperial Bank of Commerce by 3.5% in the 3rd quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock valued at $272,000 after acquiring an additional 116 shares in the last quarter. McIlrath & Eck LLC lifted its position in Canadian Imperial Bank of Commerce by 7.1% in the 4th quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock valued at $175,000 after acquiring an additional 128 shares in the last quarter. Finally, Bridgewater Advisors Inc. boosted its stake in Canadian Imperial Bank of Commerce by 4.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank’s stock valued at $311,000 after purchasing an additional 138 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

CM has been the subject of a number of research analyst reports. Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Royal Bank Of Canada lifted their price objective on 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. Weiss Ratings lowered Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Trading Down 2.9%

NYSE:CM opened at $117.75 on Tuesday. The company has a market cap of $107.48 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $113.55 and a two-hundred day simple moving average of $103.82. Canadian Imperial Bank of Commerce has a 12 month low of $71.00 and a 12 month high of $122.50.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.08. The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The company’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. Research analysts forecast that Canadian Imperial Bank of Commerce will post 7.37 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 42.58%.

About Canadian Imperial Bank of Commerce

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.