Canadian Imperial Bank of Commerce $CM Stock Holdings Lessened by Candriam S.C.A.

Candriam S.C.A. lessened its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 297,713 shares of the bank’s stock after selling 11,352 shares during the quarter. Candriam S.C.A.’s holdings in Canadian Imperial Bank of Commerce were worth $28,126,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CM. Investment Management Corp of Ontario grew its stake in Canadian Imperial Bank of Commerce by 38.6% in the fourth quarter. Investment Management Corp of Ontario now owns 290,749 shares of the bank’s stock valued at $26,345,000 after purchasing an additional 80,914 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 2.0% during 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. CIBC Bancorp USA Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $11,217,000. Intech Investment Management LLC grew its stake in shares of 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 in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 5.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 238,539 shares of the bank’s stock valued at $21,622,000 after buying an additional 12,297 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM traded up $2.61 during midday trading on Friday, reaching $117.96. The stock had a trading volume of 1,104,857 shares, compared to its average volume of 1,759,341. Canadian Imperial Bank of Commerce has a 1-year low of $71.00 and a 1-year high of $118.08. The firm’s fifty day simple moving average is $112.53 and its 200-day simple moving average is $102.60. 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 stock has a market capitalization of $107.68 billion, a P/E ratio of 16.20, a PEG ratio of 1.27 and a beta of 1.02.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. The company had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 earnings per share. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.37 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 42.58%.

Analyst Ratings Changes

A number of analysts have issued reports on CM shares. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Royal Bank Of Canada increased 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 research report on Monday, June 1st. Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Finally, Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

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.