US Bancorp DE Increases Position in Canadian Imperial Bank of Commerce (NYSE:CM)

US Bancorp DE raised its position in Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,757 shares of the bank’s stock after purchasing an additional 424 shares during the period. US Bancorp DE’s holdings in Canadian Imperial Bank of Commerce were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CM. Pacifica Partners Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Pacifica Partners Inc. now owns 510 shares of the bank’s stock valued at $25,000 after buying an additional 255 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 162.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 510 shares of the bank’s stock valued at $25,000 after buying an additional 316 shares in the last quarter. Tower View Investment Management & Research LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Tower View Investment Management & Research LLC now owns 600 shares of the bank’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Spire Wealth Management now owns 650 shares of the bank’s stock valued at $32,000 after buying an additional 325 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 800 shares of the bank’s stock valued at $39,000 after buying an additional 400 shares in the last quarter. 44.40% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Up 0.8 %

Shares of Canadian Imperial Bank of Commerce stock opened at $43.88 on Tuesday. The firm has a fifty day moving average of $43.42 and a two-hundred day moving average of $45.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $39.77 billion, a P/E ratio of 8.37, a PEG ratio of 2.82 and a beta of 1.01. Canadian Imperial Bank of Commerce has a one year low of $39.40 and a one year high of $65.89.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last announced its quarterly earnings results on Thursday, December 1st. The bank reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.21). The company had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Canadian Imperial Bank of Commerce had a net margin of 19.88% and a return on equity of 14.81%. On average, analysts forecast that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Wednesday, December 28th will be issued a $0.627 dividend. The ex-dividend date of this dividend is Tuesday, December 27th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 5.72%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.28%.

Wall Street Analysts Forecast Growth

CM has been the subject of a number of recent research reports. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday, December 22nd. TD Securities cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$74.00 to C$65.00 in a research note on Tuesday, November 15th. National Bank Financial cut shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Thursday, December 1st. Bank of America cut shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “underperform” rating in a research note on Monday, December 12th. Finally, Credit Suisse Group cut shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a research note on Friday, December 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $79.30.

About Canadian Imperial Bank of Commerce

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Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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