Whittier Trust Co. of Nevada Inc. Takes $51,000 Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Whittier Trust Co. of Nevada Inc. bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,068 shares of the bank’s stock, valued at approximately $51,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Canadian Imperial Bank of Commerce by 1.9% during 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 during the last quarter. Bank of Nova Scotia boosted its stake in shares of Canadian Imperial Bank of Commerce by 8.1% during the 4th quarter. Bank of Nova Scotia now owns 24,915,095 shares of the bank’s stock worth $1,199,627,000 after purchasing an additional 1,872,709 shares during the period. TD Asset Management Inc grew its holdings in Canadian Imperial Bank of Commerce by 13.8% during the 4th quarter. TD Asset Management Inc now owns 22,550,346 shares of the bank’s stock valued at $1,091,089,000 after purchasing an additional 2,730,076 shares during the last quarter. CIBC Asset Management Inc raised its position in Canadian Imperial Bank of Commerce by 12.8% in the 4th quarter. CIBC Asset Management Inc now owns 11,601,044 shares of the bank’s stock worth $560,365,000 after purchasing an additional 1,313,996 shares during the period. Finally, Norges Bank bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth about $404,008,000. Institutional investors own 49.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CM shares. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 2nd. UBS Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday. Finally, BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.00.

Canadian Imperial Bank of Commerce Trading Up 0.4 %

Shares of NYSE:CM opened at $57.75 on Friday. The business’s 50-day moving average is $50.35 and its 200 day moving average is $49.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $58.02. The firm has a market capitalization of $54.46 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.99 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, May 30th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.07. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.48 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.06% and a net margin of 10.46%. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be given a dividend of $0.652 per share. This represents a $2.61 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 54.12%.

About Canadian Imperial Bank of Commerce

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.