Canadian Imperial Bank of Commerce $CM Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. reduced its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 329,398 shares of the bank’s stock after selling 56,464 shares during the quarter. Canadian Imperial Bank of Commerce comprises approximately 3.2% of Lincluden Management Ltd.’s investment portfolio, making the stock its 12th largest position. Lincluden Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $29,847,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CM. Larson Financial Group LLC raised its stake in Canadian Imperial Bank of Commerce by 119.7% in 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. Grey Fox Wealth Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $34,000. Guerra Advisors Inc acquired a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $35,000. Lodestone Wealth Management LLC acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at $37,000. Finally, CX Institutional raised its stake in Canadian Imperial Bank of Commerce by 301.1% in the 3rd quarter. CX Institutional now owns 722 shares of the bank’s stock valued at $58,000 after purchasing an additional 542 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Down 0.8%

NYSE CM opened at $109.45 on Wednesday. Canadian Imperial Bank of Commerce has a 52 week low of $61.67 and a 52 week high of $110.91. 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’s fifty day simple moving average is $100.51 and its 200-day simple moving average is $93.14. The firm has a market cap of $100.51 billion, a PE ratio of 15.96, a P/E/G ratio of 1.14 and a beta of 1.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 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 business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.51 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.77%.

Analyst Upgrades and Downgrades

Several research analysts recently commented 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. Weiss Ratings downgraded Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, April 17th. Finally, Zacks Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to 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 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.