J. Safra Sarasin Holding AG Decreases Holdings in Canadian Imperial Bank of Commerce $CM

J. Safra Sarasin Holding AG trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 30.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,458 shares of the bank’s stock after selling 12,039 shares during the period. J. Safra Sarasin Holding AG’s holdings in Canadian Imperial Bank of Commerce were worth $1,945,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 156.0% during the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock worth $29,000 after acquiring an additional 312 shares in the last quarter. HM Payson & Co. purchased a new position in Canadian Imperial Bank of Commerce in the 1st quarter worth $29,000. Truvestments Capital LLC purchased a new position in Canadian Imperial Bank of Commerce in the 1st quarter worth $32,000. Private Trust Co. NA raised its position in Canadian Imperial Bank of Commerce by 40.0% in the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank’s stock worth $44,000 after purchasing an additional 223 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 51.1% in the first quarter. Farther Finance Advisors LLC now owns 902 shares of the bank’s stock worth $51,000 after buying an additional 305 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $81.44 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s 50 day moving average price is $76.50 and its 200-day moving average price is $69.10. The stock has a market capitalization of $75.71 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week high of $82.09.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 EPS. On average, equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.97 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. The ex-dividend date is Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 47.64%.

Analyst Upgrades and Downgrades

CM has been the topic of several analyst reports. Wall Street Zen downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday. Royal Bank Of Canada lifted 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 note on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

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.