Strategic Global Advisors LLC lessened its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 29.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,804 shares of the bank’s stock after selling 6,209 shares during the period. Strategic Global Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,163,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CM. Nexus Investment Management Inc. grew its stake in Canadian Imperial Bank of Commerce by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 34,588 shares of the bank’s stock valued at $2,720,000 after acquiring an additional 128 shares during the period. Raymond James Trust N.A. increased its stake in Canadian Imperial Bank of Commerce by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 11,987 shares of the bank’s stock worth $942,000 after purchasing an additional 130 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in Canadian Imperial Bank of Commerce by 4.8% during the 1st quarter. HighPoint Advisor Group LLC now owns 3,048 shares of the bank’s stock worth $253,000 after purchasing an additional 139 shares in the last quarter. GYL Financial Synergies LLC raised its holdings in Canadian Imperial Bank of Commerce by 3.2% during the 2nd quarter. GYL Financial Synergies LLC now owns 4,623 shares of the bank’s stock worth $363,000 after buying an additional 142 shares during the period. Finally, Cornerstone Advisors Inc. raised its holdings in Canadian Imperial Bank of Commerce by 22.1% during the 1st quarter. Cornerstone Advisors Inc. now owns 846 shares of the bank’s stock worth $67,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 44.54% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. TD Securities downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Scotiabank reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, August 20th. BMO Capital Markets restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 23rd. Finally, Canaccord Genuity downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $120.67.

NYSE CM traded up $1.05 during trading on Wednesday, reaching $81.25. The company’s stock had a trading volume of 32,893 shares, compared to its average volume of 574,168. The firm has a 50 day moving average price of $76.83 and a 200 day moving average price of $80.02. Canadian Imperial Bank of Commerce has a 12 month low of $72.96 and a 12 month high of $96.98. The firm has a market capitalization of $35.68 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 8.32 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, August 22nd. The bank reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.81. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. Canadian Imperial Bank of Commerce had a net margin of 18.39% and a return on equity of 15.92%. During the same period in the previous year, the business earned $3.08 earnings per share. On average, equities analysts forecast that Canadian Imperial Bank of Commerce will post 9.1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be issued a $1.091 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. This represents a $4.36 annualized dividend and a yield of 5.37%. Canadian Imperial Bank of Commerce’s payout ratio is currently 44.33%.

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.

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

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