Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Investors Research Corp

Investors Research Corp reduced its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 18,948 shares of the bank’s stock after selling 1,452 shares during the period. Investors Research Corp’s holdings in Canadian Imperial Bank of Commerce were worth $1,162,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after buying an additional 171 shares during the period. PDS Planning Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 4.7% in the third quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock worth $305,000 after acquiring an additional 224 shares during the last quarter. Simplicity Wealth LLC boosted its stake in Canadian Imperial Bank of Commerce by 3.9% during the 2nd quarter. Simplicity Wealth LLC now owns 6,448 shares of the bank’s stock worth $307,000 after purchasing an additional 240 shares during the last quarter. Prospera Private Wealth LLC grew its stake in Canadian Imperial Bank of Commerce by 3.2% during the 3rd quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank’s stock valued at $643,000 after acquiring an additional 330 shares in the last quarter. Finally, First Bank & Trust grew its holdings in Canadian Imperial Bank of Commerce by 0.8% in the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock valued at $2,555,000 after buying an additional 351 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

Shares of Canadian Imperial Bank of Commerce stock traded up $0.06 during trading on Thursday, hitting $64.95. 51,007 shares of the stock were exchanged, compared to its average volume of 1,378,878. The firm’s 50-day moving average price is $62.28 and its 200 day moving average price is $54.76. The stock has a market cap of $61.35 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 12-month low of $37.97 and a 12-month high of $65.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. As a group, analysts forecast that Canadian Imperial Bank of Commerce will post 5.34 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were given a $0.652 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.02%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.46%.

Analyst Upgrades and Downgrades

CM has been the topic of a number of research analyst reports. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Desjardins upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 2nd. Finally, Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $81.00.

About Canadian Imperial Bank of Commerce

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.