Skandinaviska Enskilda Banken AB publ Sells 43,197 Shares of Canadian Imperial Bank of Commerce $CM

Skandinaviska Enskilda Banken AB publ decreased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 293,154 shares of the bank’s stock after selling 43,197 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Canadian Imperial Bank of Commerce were worth $23,420,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 10.8% during the second quarter. American Century Companies Inc. now owns 348,986 shares of the bank’s stock valued at $24,772,000 after purchasing an additional 33,908 shares in the last quarter. Legal & General Group Plc lifted its stake in Canadian Imperial Bank of Commerce by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 6,183,439 shares of the bank’s stock valued at $438,056,000 after acquiring an additional 262,675 shares during the period. Westerkirk Capital Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $3,379,000. AGF Management Ltd. grew its stake in shares of Canadian Imperial Bank of Commerce by 15.2% in the second quarter. AGF Management Ltd. now owns 881,521 shares of the bank’s stock worth $62,908,000 after acquiring an additional 116,190 shares during the period. Finally, Cumberland Partners Ltd raised its holdings in shares of Canadian Imperial Bank of Commerce by 50.0% during the second quarter. Cumberland Partners Ltd now owns 14,407 shares of the bank’s stock valued at $1,021,000 after purchasing an additional 4,800 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CM has been the topic of several research reports. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Raymond James Financial assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They set a “market perform” rating for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $96.52 on Wednesday. The business’s 50-day simple moving average is $93.07 and its two-hundred day simple moving average is $84.98. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $98.50. The stock has a market cap of $89.44 billion, a PE ratio of 15.85, a P/E/G ratio of 1.29 and a beta of 1.02. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.08. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $1.91 earnings per share. As a group, analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Monday, December 29th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.4%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Monday, December 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 50.25%.

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.