Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by US Bancorp DE

US Bancorp DE increased its stake in Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) by 5.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 8,757 shares of the bank’s stock after buying an additional 424 shares during the period. US Bancorp DE’s holdings in Canadian Imperial Bank of Commerce were worth $383,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Wetherby Asset Management Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 3.0% in the first quarter. Wetherby Asset Management Inc. now owns 6,652 shares of the bank’s stock worth $809,000 after acquiring an additional 193 shares during the last quarter. Pacifica Partners Inc. raised its holdings in Canadian Imperial Bank of Commerce by 100.0% in the second quarter. Pacifica Partners Inc. now owns 510 shares of the bank’s stock valued at $25,000 after buying an additional 255 shares during the period. Tower View Investment Management & Research LLC raised its holdings in Canadian Imperial Bank of Commerce by 100.0% in the second quarter. Tower View Investment Management & Research LLC now owns 600 shares of the bank’s stock valued at $29,000 after buying an additional 300 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Canadian Imperial Bank of Commerce by 162.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 510 shares of the bank’s stock valued at $25,000 after buying an additional 316 shares during the period. Finally, Spire Wealth Management raised its holdings in Canadian Imperial Bank of Commerce by 100.0% in the second quarter. Spire Wealth Management now owns 650 shares of the bank’s stock valued at $32,000 after buying an additional 325 shares during the period. 44.40% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Up 0.8 %

CM opened at $43.88 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $43.42 and its 200-day moving average is $45.93. The firm has a market capitalization of $39.77 billion, a P/E ratio of 8.37, a P/E/G ratio of 2.82 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 52-week low of $39.40 and a 52-week high of $65.89.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last issued its quarterly earnings results on Thursday, December 1st. The bank reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.21). The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.36 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.81% and a net margin of 19.88%. Analysts expect that Canadian Imperial Bank of Commerce will post 5.05 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Wednesday, December 28th will be paid a $0.627 dividend. The ex-dividend date is Tuesday, December 27th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 5.72%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.28%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CM shares. CIBC upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and cut their price target for the company from C$67.00 to C$61.00 in a report on Tuesday, December 20th. TD Securities lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and cut their price target for the company from C$74.00 to C$65.00 in a report on Tuesday, November 15th. Bank of America lowered shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “underperform” rating in a report on Monday, December 12th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday, December 22nd. Finally, Credit Suisse Group lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a research note on Friday, December 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.30.

Canadian Imperial Bank of Commerce Company Profile

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Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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