Triasima Portfolio Management inc. Has $20.22 Million Stock Position in Canadian Imperial Bank of Commerce $CM

Triasima Portfolio Management inc. decreased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 222,689 shares of the bank’s stock after selling 5,373 shares during the period. Canadian Imperial Bank of Commerce makes up about 3.0% of Triasima Portfolio Management inc.’s holdings, making the stock its 5th largest holding. Triasima Portfolio Management inc.’s holdings in Canadian Imperial Bank of Commerce were worth $20,215,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CM. Canerector Inc. boosted its stake in Canadian Imperial Bank of Commerce by 11,021.0% during the third quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock valued at $1,776,913,000 after buying an additional 22,042,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Canadian Imperial Bank of Commerce by 10.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,349,841 shares of the bank’s stock valued at $826,866,000 after buying an additional 980,811 shares during the period. Nicola Wealth Management LTD. bought a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at $75,920,000. Vanguard Group Inc. boosted its stake in Canadian Imperial Bank of Commerce by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 43,097,841 shares of the bank’s stock valued at $3,907,078,000 after buying an additional 876,974 shares during the period. Finally, Picton Mahoney Asset Management boosted its stake in Canadian Imperial Bank of Commerce by 69.1% during the third quarter. Picton Mahoney Asset Management now owns 1,477,258 shares of the bank’s stock valued at $118,022,000 after buying an additional 603,540 shares during the period. Institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CM shares. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings lowered Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, April 17th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Trading Up 0.0%

Shares of CM stock opened at $112.16 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $100.99 and a two-hundred day moving average price of $93.55. Canadian Imperial Bank of Commerce has a 12-month low of $63.40 and a 12-month high of $113.28. The firm has a market cap of $102.99 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.16 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.51 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 annualized dividend and a yield of 3.8%. Canadian Imperial Bank of Commerce’s payout ratio is 45.77%.

Canadian Imperial Bank of Commerce Profile

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.