Gulf International Bank UK Ltd lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) by 56.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,796 shares of the bank’s stock after selling 3,594 shares during the period. Gulf International Bank UK Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $171,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its stake in Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares in the last quarter. PDS Planning Inc raised its position in shares of Canadian Imperial Bank of Commerce by 4.7% in the 3rd quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock valued at $305,000 after buying an additional 224 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.9% during the 2nd quarter. Simplicity Wealth LLC now owns 6,448 shares of the bank’s stock worth $307,000 after acquiring an additional 240 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 5.3% during the 1st quarter. Bleakley Financial Group LLC now owns 6,208 shares of the bank’s stock worth $315,000 after acquiring an additional 314 shares in the last quarter. Finally, First Bank & Trust increased its stake in Canadian Imperial Bank of Commerce by 0.8% in the third quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock valued at $2,555,000 after acquiring an additional 351 shares during the last quarter. 49.88% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CM shares. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. BMO Capital Markets lifted their price target on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, Desjardins raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $81.00.
Canadian Imperial Bank of Commerce Stock Performance
Canadian Imperial Bank of Commerce stock opened at $64.33 on Friday. The business has a 50 day moving average of $61.53 and a 200-day moving average of $53.78. The company has a market capitalization of $60.77 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.84 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $37.29 and a 1 year high of $64.79. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.
Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) last released its quarterly earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.34 earnings per share for the current year.
Canadian Imperial Bank of Commerce Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were given a $0.652 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.05%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.46%.
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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.
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