Gold Investment Management Ltd. Has $3.33 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Gold Investment Management Ltd. raised its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 54,225 shares of the bank’s stock after acquiring an additional 387 shares during the period. Canadian Imperial Bank of Commerce makes up about 1.4% of Gold Investment Management Ltd.’s holdings, making the stock its 25th largest position. Gold Investment Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $3,326,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 35,913,241 shares of the bank’s stock valued at $1,821,520,000 after purchasing an additional 675,786 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Canadian Imperial Bank of Commerce by 17.9% in the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after purchasing an additional 3,942,894 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 18.9% in the second quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock valued at $938,834,000 after purchasing an additional 3,143,734 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Canadian Imperial Bank of Commerce by 26.8% in the second quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank’s stock valued at $867,377,000 after purchasing an additional 3,875,280 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.3% in the second quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock valued at $342,946,000 after purchasing an additional 228,130 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CM shares. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 2nd. StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. Finally, BMO Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus target price of $81.00.

Canadian Imperial Bank of Commerce Stock Down 0.7 %

NYSE CM opened at $64.16 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $60.60 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.83 and a beta of 1.06. Canadian Imperial Bank of Commerce has a one year low of $37.29 and a one year high of $64.79. The stock has a 50 day moving average price of $61.27 and a 200-day moving average price of $53.59.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 5.34 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were issued a dividend of $0.652 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 52.46%.

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.