Canadian Imperial Bank of Commerce $CM Stake Decreased by Lincluden Management Ltd.

Lincluden Management Ltd. decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 433,144 shares of the bank’s stock after selling 9,219 shares during the period. Canadian Imperial Bank of Commerce comprises about 3.4% of Lincluden Management Ltd.’s holdings, making the stock its 10th largest holding. Lincluden Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $30,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CM. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after acquiring an additional 194 shares during the period. GAMMA Investing LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 5,530.0% in the 1st quarter. GAMMA Investing LLC now owns 20,437 shares of the bank’s stock worth $1,151,000 after purchasing an additional 20,074 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 51.1% in the 1st quarter. Farther Finance Advisors LLC now owns 902 shares of the bank’s stock worth $51,000 after purchasing an additional 305 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $530,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Canadian Imperial Bank of Commerce by 7.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 71,765 shares of the bank’s stock worth $4,036,000 after purchasing an additional 4,999 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CM shares. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday. Wall Street Zen cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Finally, Royal Bank Of Canada boosted their price target on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at $79.82 on Friday. The stock has a market capitalization of $74.20 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $82.23. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $77.34 and its 200 day simple moving average is $69.99.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 EPS. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be given a $0.97 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.88 annualized dividend and a yield of 4.9%. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.64%.

Canadian Imperial Bank of Commerce Company 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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.