Wrapmanager Inc. Lowers Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Wrapmanager Inc. reduced its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.4% in the 2nd quarter, Holdings Channel reports. The fund owned 12,336 shares of the bank’s stock after selling 308 shares during the period. Wrapmanager Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $969,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CM. DekaBank Deutsche Girozentrale boosted its holdings in shares of Canadian Imperial Bank of Commerce by 53.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 201,047 shares of the bank’s stock valued at $18,911,000 after purchasing an additional 69,884 shares during the last quarter. Signition LP lifted its holdings in shares of Canadian Imperial Bank of Commerce by 18.6% during the 1st quarter. Signition LP now owns 12,756 shares of the bank’s stock valued at $1,009,000 after acquiring an additional 2,000 shares in the last quarter. Investec Asset Management LTD lifted its holdings in shares of Canadian Imperial Bank of Commerce by 478.2% during the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the bank’s stock valued at $8,803,000 after acquiring an additional 536,357 shares in the last quarter. BB&T Corp lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1.7% during the 2nd quarter. BB&T Corp now owns 38,256 shares of the bank’s stock valued at $3,005,000 after acquiring an additional 654 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Canadian Imperial Bank of Commerce by 11.7% during the 1st quarter. Raymond James & Associates now owns 707,467 shares of the bank’s stock valued at $55,964,000 after acquiring an additional 74,001 shares in the last quarter. 45.15% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:CM traded up $0.83 during midday trading on Tuesday, hitting $76.22. 22,601 shares of the company’s stock traded hands, compared to its average volume of 300,386. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $33.54 billion, a P/E ratio of 8.16, a PEG ratio of 6.72 and a beta of 1.17. The firm has a fifty day moving average price of $78.29. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $96.98.



Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Wednesday, May 22nd. The bank reported $2.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.22 by $0.75. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. Canadian Imperial Bank of Commerce had a net margin of 18.83% and a return on equity of 16.30%. During the same quarter in the previous year, the business posted $2.95 EPS. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 9.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Friday, June 28th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $4.16 annualized dividend and a dividend yield of 5.46%. Canadian Imperial Bank of Commerce’s payout ratio is 44.33%.

CM has been the topic of several recent research reports. TD Securities lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. BMO Capital Markets restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 23rd. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Barclays lowered shares of Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating in a report on Tuesday, June 11th. Finally, Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $120.00.

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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