Natixis Advisors LLC Grows Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Natixis Advisors LLC increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,892 shares of the bank’s stock after buying an additional 3,836 shares during the quarter. Natixis Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $2,876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CM. Ridgewood Investments LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $29,000. Blue Trust Inc. lifted its stake in Canadian Imperial Bank of Commerce by 571.6% in the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after acquiring an additional 623 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at $51,000. Massmutual Trust Co. FSB ADV increased its position in Canadian Imperial Bank of Commerce by 23.1% during the 3rd 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 during the period. Finally, City State Bank bought a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth $61,000. 49.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CM has been the topic of a number of research analyst reports. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” 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 note on Saturday, October 19th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Finally, Desjardins upgraded 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 issued a buy rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $65.42 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a twelve month low of $37.97 and a twelve month high of $65.54. The business has a 50-day moving average price of $62.44 and a 200-day moving average price of $55.05. The firm has a market cap of $61.80 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.71 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The company had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.27 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were paid a $0.652 dividend. This represents a $2.61 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 52.26%.

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.