Canadian Imperial Bank of Commerce $CM Shares Sold by LRT Capital Management LLC

LRT Capital Management LLC lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 43.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,467 shares of the bank’s stock after selling 15,242 shares during the period. Canadian Imperial Bank of Commerce makes up approximately 1.5% of LRT Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. LRT Capital Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,764,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Larson Financial Group LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after purchasing an additional 219 shares during the period. Lodestone Wealth Management LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $37,000. Smartleaf Asset Management LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 128.1% during the third quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock worth $58,000 after purchasing an additional 406 shares during the period. Aventura Private Wealth LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Canadian Imperial Bank of Commerce by 87.0% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 1.5%

CM opened at $113.51 on Friday. The business’s fifty day moving average is $108.86 and its two-hundred day moving average is $99.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $103.61 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.22 and a beta of 1.02. Canadian Imperial Bank of Commerce has a one year low of $67.46 and a one year high of $117.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. The company had revenue of $5.89 billion for the quarter, compared to the consensus estimate of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.Canadian Imperial Bank of Commerce’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share. Analysts anticipate that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 43.13%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CM. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Scotiabank downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Monday, June 1st. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Finally, Royal Bank Of Canada lifted their target price on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $167.00.

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.