Canadian Imperial Bank of Commerce $CM Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 69.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,396 shares of the bank’s stock after selling 19,062 shares during the period. J. Safra Sarasin Holding AG’s holdings in Canadian Imperial Bank of Commerce were worth $671,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Advisory Inc. raised its position in Canadian Imperial Bank of Commerce by 2.6% in the 2nd quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after purchasing an additional 160 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 0.3% during the second quarter. Janney Montgomery Scott LLC now owns 53,477 shares of the bank’s stock worth $3,788,000 after buying an additional 173 shares during the period. Pacifica Partners Inc. grew its holdings in Canadian Imperial Bank of Commerce by 12.1% during the 3rd quarter. Pacifica Partners Inc. now owns 1,756 shares of the bank’s stock worth $141,000 after acquiring an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Canadian Imperial Bank of Commerce by 12.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after purchasing an additional 193 shares during the last quarter. Finally, PDS Planning Inc increased its position in shares of Canadian Imperial Bank of Commerce by 4.0% in the 2nd quarter. PDS Planning Inc now owns 5,655 shares of the bank’s stock valued at $401,000 after purchasing an additional 217 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, January 21st. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Raymond James Financial initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They issued a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Stock Up 2.2%

Shares of NYSE:CM opened at $95.14 on Friday. Canadian Imperial Bank of Commerce has a fifty-two week low of $53.62 and a fifty-two week high of $95.20. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $90.81 and its 200-day simple moving average is $82.76. The company has a market cap of $88.16 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.27 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.08. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.Canadian Imperial Bank of Commerce’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 earnings per share. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Monday, December 29th were paid a dividend of $1.07 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Monday, December 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 50.25%.

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.