Baskin Financial Services Inc. decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 14.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,505 shares of the bank’s stock after selling 770 shares during the period. Baskin Financial Services Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $356,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Liberty Wealth Management LLC bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $31,000. Advisory Services Network LLC raised its holdings in Canadian Imperial Bank of Commerce by 108.0% during the fourth quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock worth $33,000 after purchasing an additional 230 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $38,000. Capital Investment Advisory Services LLC bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $37,000. Finally, Laurel Wealth Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $39,000. 46.69% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on CM shares. ValuEngine raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. Canaccord Genuity reissued an “average” rating and set a $125.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, February 20th. Scotiabank reissued an “average” rating and set a $126.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, February 22nd. Barclays reissued an “average” rating and set a $123.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, March 1st. Finally, Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $125.43.

Shares of NYSE CM traded down $0.01 during trading on Monday, hitting $82.52. The company had a trading volume of 284,821 shares, compared to its average volume of 400,975. The stock has a market capitalization of $36.58 billion, a P/E ratio of 8.84, a P/E/G ratio of 4.85 and a beta of 1.14. Canadian Imperial Bank of Commerce has a 52 week low of $72.96 and a 52 week high of $96.98. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.06 and a current ratio of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, February 28th. The bank reported $2.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.37 by ($0.11). The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.51 billion. Canadian Imperial Bank of Commerce had a net margin of 19.44% and a return on equity of 16.70%. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 9.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a $1.0616 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $4.25 annualized dividend and a dividend yield of 5.15%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.50%.

ILLEGAL ACTIVITY NOTICE: This story was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://theolympiareport.com/2019/04/15/canadian-imperial-bank-of-commerce-cm-position-reduced-by-baskin-financial-services-inc.html.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Further Reading: Net Asset Value

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM).

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.