Value Partners Investments Inc. Sells 179,931 Shares of Canadian Imperial Bank of Commerce $CM

Value Partners Investments Inc. lessened its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 22.7% in the first quarter, Holdings Channel reports. The firm owned 612,390 shares of the bank’s stock after selling 179,931 shares during the quarter. Canadian Imperial Bank of Commerce accounts for about 4.4% of Value Partners Investments Inc.’s investment portfolio, making the stock its 8th largest position. Value Partners Investments Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $57,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at approximately $262,000. EverSource Wealth Advisors LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 12.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock worth $128,000 after acquiring an additional 193 shares in the last quarter. Brown Advisory Inc. increased its stake in Canadian Imperial Bank of Commerce by 2.6% in the second quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after acquiring an additional 160 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Canadian Imperial Bank of Commerce by 74.6% during the second quarter. Qube Research & Technologies Ltd now owns 336,017 shares of the bank’s stock valued at $23,833,000 after purchasing an additional 143,588 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Canadian Imperial Bank of Commerce by 7,315.0% during the second quarter. NewEdge Advisors LLC now owns 2,966 shares of the bank’s stock worth $210,000 after purchasing an additional 2,926 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CM. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Royal Bank Of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, June 1st. Finally, 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. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce Stock Down 0.5%

NYSE:CM opened at $113.80 on Friday. Canadian Imperial Bank of Commerce has a one year low of $69.43 and a one year high of $117.05. 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 company has a market cap of $103.88 billion, a PE ratio of 15.63, a P/E/G ratio of 1.24 and a beta of 1.02. The firm’s 50 day simple moving average is $111.30 and its 200 day simple moving average is $101.00.

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 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 firm had revenue of $5.89 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter last year, the firm earned $2.05 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.37 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is 42.58%.

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.