Canadian Imperial Bank of Commerce (NYSE:CM) Position Lessened by TD Asset Management Inc.

TD Asset Management Inc. trimmed its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,686,293 shares of the bank’s stock after selling 752,754 shares during the quarter. Canadian Imperial Bank of Commerce accounts for about 2.0% of TD Asset Management Inc.’s investment portfolio, making the stock its 9th biggest position. TD Asset Management Inc. owned approximately 3.75% of Canadian Imperial Bank of Commerce worth $1,314,984,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nexus Investment Management Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 34,588 shares of the bank’s stock valued at $2,720,000 after buying an additional 128 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Canadian Imperial Bank of Commerce by 1.1% in the second quarter. Raymond James Trust N.A. now owns 11,987 shares of the bank’s stock worth $942,000 after purchasing an additional 130 shares in the last quarter. HighPoint Advisor Group LLC lifted its position in Canadian Imperial Bank of Commerce by 4.8% during the 1st quarter. HighPoint Advisor Group LLC now owns 3,048 shares of the bank’s stock worth $253,000 after acquiring an additional 139 shares during the last quarter. Cornerstone Advisors Inc. lifted its position in Canadian Imperial Bank of Commerce by 22.1% during the 1st quarter. Cornerstone Advisors Inc. now owns 846 shares of the bank’s stock worth $67,000 after acquiring an additional 153 shares during the last quarter. Finally, Townsend & Associates Inc lifted its position in Canadian Imperial Bank of Commerce by 0.7% during the 2nd quarter. Townsend & Associates Inc now owns 24,483 shares of the bank’s stock worth $1,952,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 45.15% of the company’s stock.

CM stock traded up $0.57 during trading on Tuesday, reaching $75.96. 27,187 shares of the company were exchanged, compared to its average volume of 300,386. The business’s 50-day moving average is $78.29. The company has a market capitalization of $33.54 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 6.72 and a beta of 1.17. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $96.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.05.



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

The business also recently announced a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Friday, June 28th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 5.48%. Canadian Imperial Bank of Commerce’s payout ratio is presently 44.33%.

Several brokerages have weighed in on CM. Barclays cut shares of Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 11th. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. 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. Canaccord Genuity lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. 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 price objective on the stock in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $120.00.

Canadian Imperial Bank of Commerce 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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