Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by US Bancorp DE

US Bancorp DE increased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,280 shares of the bank’s stock after buying an additional 906 shares during the period. US Bancorp DE’s holdings in Canadian Imperial Bank of Commerce were worth $937,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CM. Financial Advocates Investment Management bought a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $223,000. First Trust Direct Indexing L.P. lifted its position in Canadian Imperial Bank of Commerce by 61.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 11,305 shares of the bank’s stock valued at $693,000 after purchasing an additional 4,318 shares during the last quarter. Galibier Capital Management Ltd. lifted its position in Canadian Imperial Bank of Commerce by 10.1% in the 3rd quarter. Galibier Capital Management Ltd. now owns 523,698 shares of the bank’s stock valued at $32,160,000 after purchasing an additional 48,053 shares during the last quarter. First Bank & Trust lifted its position in Canadian Imperial Bank of Commerce by 0.8% in the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock valued at $2,555,000 after purchasing an additional 351 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $243,000. 49.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CM has been the topic of several recent research reports. BMO Capital Markets lifted their price objective on shares of 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. Desjardins upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Finally, Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus price target of $81.00.

Canadian Imperial Bank of Commerce Stock Down 0.4 %

NYSE CM opened at $64.36 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day simple moving average is $61.53 and its 200 day simple moving average is $53.78. Canadian Imperial Bank of Commerce has a 12 month low of $37.29 and a 12 month high of $64.79. The company has a market capitalization of $60.79 billion, a P/E ratio of 12.64, a PEG ratio of 1.83 and a beta of 1.06.

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 for the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.34 earnings per share for the current fiscal 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 given a dividend of $0.652 per share. This represents a $2.61 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 52.46%.

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.