Canadian Imperial Bank of Commerce $CM Shares Sold by Andra AP fonden

Andra AP fonden decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 39.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,300 shares of the bank’s stock after selling 152,800 shares during the quarter. Andra AP fonden’s holdings in Canadian Imperial Bank of Commerce were worth $20,958,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 119.7% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after purchasing an additional 219 shares during the period. Lodestone Wealth Management LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $37,000. Smartleaf Asset Management LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 128.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock worth $58,000 after purchasing an additional 406 shares during the period. Aventura Private Wealth LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of Canadian Imperial Bank of Commerce by 87.0% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $111.83 on Friday. Canadian Imperial Bank of Commerce has a 1 year low of $67.46 and a 1 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 company’s fifty day moving average price is $108.51 and its 200 day moving average price is $99.02. The stock has a market capitalization of $102.09 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.18 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

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 paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is 43.13%.

Analyst Ratings Changes

CM has been the topic of a number of analyst reports. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada raised their price objective on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Weiss Ratings cut shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 4th. Finally, Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce Company 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.