Shufro Rose & Co. LLC Has $5.58 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Shufro Rose & Co. LLC decreased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,036 shares of the bank’s stock after selling 600 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Canadian Imperial Bank of Commerce were worth $5,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. TD Asset Management Inc. lifted its stake in Canadian Imperial Bank of Commerce by 1.8% in the first quarter. TD Asset Management Inc. now owns 17,439,047 shares of the bank’s stock valued at $1,378,467,000 after buying an additional 315,286 shares during the period. Toronto Dominion Bank lifted its stake in Canadian Imperial Bank of Commerce by 15.6% in the first quarter. Toronto Dominion Bank now owns 13,910,392 shares of the bank’s stock valued at $1,099,327,000 after buying an additional 1,881,024 shares during the period. Acadian Asset Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 0.3% in the first quarter. Acadian Asset Management LLC now owns 6,058,122 shares of the bank’s stock valued at $478,862,000 after buying an additional 16,163 shares during the period. Great West Life Assurance Co. Can lifted its stake in Canadian Imperial Bank of Commerce by 0.9% in the first quarter. Great West Life Assurance Co. Can now owns 4,524,036 shares of the bank’s stock valued at $356,499,000 after buying an additional 40,036 shares during the period. Finally, Federated Investors Inc. PA lifted its stake in Canadian Imperial Bank of Commerce by 13.8% in the first quarter. Federated Investors Inc. PA now owns 2,226,907 shares of the bank’s stock valued at $176,082,000 after buying an additional 270,209 shares during the period. 45.63% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on CM. TD Securities lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. BMO Capital Markets reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 23rd. Barclays lowered Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 11th. Finally, Canaccord Genuity lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $122.60.

Shares of NYSE CM traded down $0.49 during mid-day trading on Friday, reaching $77.03. 641,481 shares of the company’s stock were exchanged, compared to its average volume of 299,750. The stock has a market capitalization of $34.48 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 6.85 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average is $78.74. 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 released its quarterly earnings results on Wednesday, May 22nd. The bank reported $2.97 EPS for the quarter, topping the Zacks’ consensus estimate of $2.22 by $0.75. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.30% and a net margin of 18.83%. During the same quarter last year, the firm posted $2.95 earnings per share. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 8.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date was Thursday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 44.33%.

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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