Wrapmanager Inc. Has $256,000 Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Wrapmanager Inc. cut its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 15.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,170 shares of the bank’s stock after selling 770 shares during the quarter. Wrapmanager Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Toronto Dominion Bank boosted its position in shares of Canadian Imperial Bank of Commerce by 17.9% during the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock worth $1,233,272,000 after purchasing an additional 3,942,894 shares in the last quarter. National Bank of Canada FI grew its stake in 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 acquiring an additional 3,875,280 shares during the period. Cibc World Market Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 18.9% during the second quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock valued at $938,834,000 after acquiring an additional 3,143,734 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Canadian Imperial Bank of Commerce by 61.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank’s stock worth $334,321,000 after purchasing an additional 2,681,428 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Canadian Imperial Bank of Commerce by 41.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,589,611 shares of the bank’s stock worth $283,642,000 after purchasing an additional 1,634,651 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $64.33 on Wednesday. The company has a market capitalization of $60.77 billion, a PE ratio of 12.64, a PEG ratio of 1.84 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $62.20 and its 200-day moving average price is $54.69. Canadian Imperial Bank of Commerce has a twelve month low of $37.97 and a twelve month high of $65.09.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data 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. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.34 EPS for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a yield of 4.05%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.26%.

Analyst Ratings Changes

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

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.