93,506 Canadian Imperial Bank of Commerce $CM Shares Sold by Value Partners Investments Inc.

Value Partners Investments Inc. trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 19.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 381,152 shares of the bank’s stock after selling 93,506 shares during the period. Canadian Imperial Bank of Commerce accounts for approximately 2.9% of Value Partners Investments Inc.’s investment portfolio, making the stock its 18th biggest holding. Value Partners Investments Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $42,105,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. West Family Investments Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 4.1% in the 2nd quarter. West Family Investments Inc. now owns 2,724 shares of the bank’s stock valued at $313,000 after buying an additional 107 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Canadian Imperial Bank of Commerce by 0.8% in the second quarter. Integrated Wealth Concepts LLC now owns 14,479 shares of the bank’s stock worth $1,665,000 after buying an additional 110 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Canadian Imperial Bank of Commerce by 1.1% during the second quarter. Sequoia Financial Advisors LLC now owns 10,192 shares of the bank’s stock valued at $1,172,000 after acquiring an additional 113 shares in the last quarter. Greenspring Advisors LLC raised its position in Canadian Imperial Bank of Commerce by 5.6% during the second quarter. Greenspring Advisors LLC now owns 2,445 shares of the bank’s stock valued at $281,000 after acquiring an additional 129 shares in the last quarter. Finally, World Investment Advisors raised its position in Canadian Imperial Bank of Commerce by 6.7% during the first quarter. World Investment Advisors now owns 2,975 shares of the bank’s stock valued at $282,000 after acquiring an additional 187 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CM has been the subject of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 28th. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 27th. TD Securities restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, August 12th. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $160.00.

Canadian Imperial Bank of Commerce Stock Down 0.6%

Shares of NYSE:CM traded down $0.72 on Monday, reaching $111.76. The company had a trading volume of 528,104 shares, compared to its average volume of 1,292,005. The stock has a market capitalization of $102.02 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.11 and a beta of 1.02. The stock has a 50-day moving average price of $114.53 and a 200 day moving average price of $112.96. Canadian Imperial Bank of Commerce has a twelve month low of $80.31 and a twelve month high of $124.86. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.74 billion. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 7.60 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Monday, September 28th will be given a dividend of C$1.07 per share. The ex-dividend date of this dividend is Monday, September 28th. This represents a $4.28 dividend on an annualized basis and a yield of 3.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 41.26%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a Canadian financial institution headquartered in Toronto, Ontario. The bank provides a broad range of financial products and services to individuals, businesses, institutions and governments through its Canadian and U.S. operations.

CIBC’s main businesses include personal and business banking, commercial banking, wealth management, and capital markets. Its offerings include deposit accounts, mortgages, consumer and business lending, credit cards, investment and advisory services, and financial planning.