CLARET ASSET MANAGEMENT Corp Sells 817 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

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CLARET ASSET MANAGEMENT Corp decreased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,196 shares of the bank’s stock after selling 817 shares during the quarter. CLARET ASSET MANAGEMENT Corp’s holdings in Canadian Imperial Bank of Commerce were worth $3,400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nexus Investment Management Inc. raised its position in Canadian Imperial Bank of Commerce by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 34,588 shares of the bank’s stock worth $2,720,000 after acquiring an additional 128 shares during the period. Raymond James Trust N.A. lifted its stake in Canadian Imperial Bank of Commerce by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 11,987 shares of the bank’s stock valued at $942,000 after acquiring an additional 130 shares during the period. GYL Financial Synergies LLC lifted its stake in Canadian Imperial Bank of Commerce by 3.2% during the 2nd quarter. GYL Financial Synergies LLC now owns 4,623 shares of the bank’s stock valued at $363,000 after acquiring an additional 142 shares during the period. Outlook Wealth Advisors LLC lifted its stake in Canadian Imperial Bank of Commerce by 2.9% during the 2nd quarter. Outlook Wealth Advisors LLC now owns 5,130 shares of the bank’s stock valued at $403,000 after acquiring an additional 144 shares during the period. Finally, Townsend & Associates Inc lifted its stake in Canadian Imperial Bank of Commerce by 0.7% during the 2nd quarter. Townsend & Associates Inc now owns 24,483 shares of the bank’s stock valued at $1,952,000 after acquiring an additional 161 shares during the period. 44.54% of the stock is currently owned by institutional investors and hedge funds.

CM has been the subject of several research reports. Scotiabank restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, August 20th. ValuEngine upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BMO Capital Markets restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 23rd. Barclays restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada restated a “hold” rating and set a $124.00 price objective (down from $128.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 23rd. Ten analysts have rated the stock with a hold rating, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus price target of $120.67.

Shares of CM traded up $1.56 during trading hours on Friday, hitting $83.34. The stock had a trading volume of 234,309 shares, compared to its average volume of 733,783. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a 50-day moving average price of $80.04 and a 200 day moving average price of $79.65. Canadian Imperial Bank of Commerce has a fifty-two week low of $72.96 and a fifty-two week high of $90.18. The firm has a market capitalization of $36.38 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 2.93 and a beta of 1.17.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, August 22nd. The bank reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.81. Canadian Imperial Bank of Commerce had a net margin of 18.39% and a return on equity of 15.92%. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the business posted $3.08 EPS. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 9.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a $1.091 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. This represents a $4.36 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend is Thursday, September 26th. Canadian Imperial Bank of Commerce’s payout ratio is currently 46.36%.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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