Canadian Imperial Bank of Commerce $CM Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. cut its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 13.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,558 shares of the bank’s stock after selling 235 shares during the period. Geneos Wealth Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $88,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in Canadian Imperial Bank of Commerce by 2.3% in the 4th quarter. Ameriprise Financial Inc. now owns 29,735 shares of the bank’s stock worth $1,880,000 after buying an additional 663 shares during the period. Focus Partners Wealth increased its holdings in Canadian Imperial Bank of Commerce by 18.5% in the 4th quarter. Focus Partners Wealth now owns 7,401 shares of the bank’s stock worth $468,000 after buying an additional 1,155 shares during the period. Quantinno Capital Management LP increased its holdings in Canadian Imperial Bank of Commerce by 5.7% in the 4th quarter. Quantinno Capital Management LP now owns 38,357 shares of the bank’s stock worth $2,425,000 after buying an additional 2,065 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 2.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,179,347 shares of the bank’s stock worth $74,570,000 after acquiring an additional 32,036 shares during the period. Finally, Vise Technologies Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 30.0% in the fourth quarter. Vise Technologies Inc. now owns 19,805 shares of the bank’s stock worth $1,252,000 after acquiring an additional 4,566 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on CM. Royal Bank Of Canada increased their price objective on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Finally, National Bank Financial lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Friday, May 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Stock Up 0.0%

CM stock opened at $80.24 on Thursday. The firm has a market cap of $74.59 billion, a PE ratio of 13.55, a P/E/G ratio of 1.73 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s fifty day moving average is $74.71 and its 200 day moving average is $67.11. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $80.73.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period last year, the firm earned $1.93 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Monday, September 29th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. This represents a $3.88 annualized dividend and a yield of 4.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 47.64%.

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.