Canadian Imperial Bank of Commerce $CM Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,414,164 shares of the bank’s stock after selling 123,894 shares during the quarter. Canadian Imperial Bank of Commerce comprises about 3.6% of Mufg Securities Canada LTD.’s holdings, making the stock its 10th largest position. Mufg Securities Canada LTD.’s holdings in Canadian Imperial Bank of Commerce were worth $128,231,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

CM has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Weiss Ratings lowered Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 4th. 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. Royal Bank Of Canada raised their price objective on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Three 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, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Trading Up 0.0%

Shares of NYSE CM opened at $113.51 on Monday. The company has a market cap of $103.61 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.22 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 12-month low of $67.46 and a 12-month high of $117.05. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $108.86 and its 200 day simple moving average is $99.23.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.08. The business 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%.The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $2.05 EPS. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 annualized dividend and a dividend yield of 3.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 43.13%.

Canadian Imperial Bank of Commerce Company 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.