Lipe & Dalton Trims Holdings in Canadian Imperial Bank of Commerce $CM

Lipe & Dalton cut its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,740 shares of the bank’s stock after selling 4,920 shares during the period. Canadian Imperial Bank of Commerce accounts for about 3.8% of Lipe & Dalton’s portfolio, making the stock its 4th biggest position. Lipe & Dalton’s holdings in Canadian Imperial Bank of Commerce were worth $7,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC increased its position in shares of Canadian Imperial Bank of Commerce by 119.7% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after purchasing an additional 219 shares during the last quarter. EFG International AG bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth $35,000. Lodestone Wealth Management LLC purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $37,000. Aventura Private Wealth LLC bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in 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 valued at $69,000 after acquiring an additional 400 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Down 1.7%

NYSE:CM opened at $113.95 on Thursday. Canadian Imperial Bank of Commerce has a twelve month low of $71.00 and a twelve month high of $117.05. The company has a market cap of $104.02 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.02. The stock has a fifty day simple moving average of $112.20 and a 200-day simple moving average of $102.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. The firm had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The business’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 earnings per share. Analysts anticipate that Canadian Imperial Bank of Commerce will post 7.37 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is 42.58%.

Analyst Upgrades and Downgrades

CM has been the subject of several analyst reports. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Scotiabank restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, June 16th. Finally, Weiss Ratings lowered Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 4th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus target price 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.