Envestnet Asset Management Inc. Has $9.94 Million Stock Holdings in Canadian Imperial Bank of Commerce $CM

Envestnet Asset Management Inc. lowered its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 70.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 124,364 shares of the bank’s stock after selling 296,221 shares during the period. Envestnet Asset Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $9,935,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Brown Advisory Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 2.6% during the 2nd quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock worth $445,000 after acquiring an additional 160 shares during the period. Pacifica Partners Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 12.1% during the 3rd quarter. Pacifica Partners Inc. now owns 1,756 shares of the bank’s stock valued at $141,000 after purchasing an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Canadian Imperial Bank of Commerce by 12.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after purchasing an additional 193 shares during the last quarter. Baron Wealth Management LLC boosted its position in Canadian Imperial Bank of Commerce by 7.0% during the third quarter. Baron Wealth Management LLC now owns 3,364 shares of the bank’s stock worth $269,000 after purchasing an additional 221 shares during the period. Finally, L.M. Kohn & Company increased its holdings in shares of Canadian Imperial Bank of Commerce by 6.0% in the second quarter. L.M. Kohn & Company now owns 4,090 shares of the bank’s stock valued at $290,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Analyst Ratings Changes

CM has been the subject of a number of research reports. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, January 21st. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Raymond James Financial began coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Stock Up 0.3%

NYSE CM opened at $96.79 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13. The company has a market cap of $89.69 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.28 and a beta of 1.02. The company has a 50 day moving average of $93.17 and a 200-day moving average of $85.06. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $98.50.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.23 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 earnings per share. On average, equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Monday, December 29th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.4%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend was Monday, December 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 50.25%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.