Boston Advisors LLC Has $1.48 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Boston Advisors LLC lowered its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,200 shares of the bank’s stock after selling 3,800 shares during the period. Boston Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,482,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Canadian Imperial Bank of Commerce by 494.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,426,039 shares of the bank’s stock valued at $115,738,000 after buying an additional 1,186,052 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Canadian Imperial Bank of Commerce by 63.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,876,904 shares of the bank’s stock valued at $233,390,000 after buying an additional 1,115,584 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Canadian Imperial Bank of Commerce by 100.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,813,405 shares of the bank’s stock worth $147,176,000 after purchasing an additional 910,173 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Canadian Imperial Bank of Commerce by 8.7% during the third quarter. CIBC Asset Management Inc now owns 8,402,918 shares of the bank’s stock worth $733,255,000 after purchasing an additional 672,414 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Canadian Imperial Bank of Commerce by 75.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,072,552 shares of the bank’s stock worth $87,048,000 after purchasing an additional 462,738 shares in the last quarter. Hedge funds and other institutional investors own 44.44% of the company’s stock.

CM has been the subject of several analyst reports. Canaccord Genuity reissued a “buy” rating and set a $121.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Thursday, November 30th. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Scotiabank reiterated a “hold” rating and issued a $128.00 price target on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, November 22nd. Citigroup lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Wednesday, October 25th. Finally, Credit Suisse Group upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and increased their price target for the company from $116.00 to $125.00 in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $114.00.

Canadian Imperial Bank of Commerce (NYSE CM) opened at $90.99 on Tuesday. Canadian Imperial Bank of Commerce has a one year low of $77.20 and a one year high of $100.01. The company has a market cap of $40,310.00, a price-to-earnings ratio of 10.16, a PEG ratio of 2.79 and a beta of 1.10. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, November 30th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.20. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.29 billion. Canadian Imperial Bank of Commerce had a net margin of 22.45% and a return on equity of 17.57%. sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 8.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 29th. Shareholders of record on Thursday, December 28th were issued a dividend of $1.011 per share. This represents a $4.04 annualized dividend and a yield of 4.44%. The ex-dividend date was Wednesday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 47.10%.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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

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