Strategic Global Advisors LLC Has $1.16 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Strategic Global Advisors LLC decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 29.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,804 shares of the bank’s stock after selling 6,209 shares during the quarter. Strategic Global Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,163,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Toronto Dominion Bank increased its position in shares of Canadian Imperial Bank of Commerce by 31.6% during the second quarter. Toronto Dominion Bank now owns 18,311,681 shares of the bank’s stock worth $1,439,731,000 after purchasing an additional 4,401,289 shares in the last quarter. Letko Brosseau & Associates Inc. boosted its stake in Canadian Imperial Bank of Commerce by 43.2% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,655,937 shares of the bank’s stock valued at $209,304,000 after purchasing an additional 801,058 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $66,073,000. Investec Asset Management LTD boosted its position in 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 worth $8,803,000 after acquiring an additional 536,357 shares during the period. Finally, TD Asset Management Inc. boosted its position in Canadian Imperial Bank of Commerce by 1.8% during the 1st quarter. TD Asset Management Inc. now owns 17,439,047 shares of the bank’s stock worth $1,378,467,000 after acquiring an additional 315,286 shares during the period. Institutional investors and hedge funds own 44.54% of the company’s stock.

Shares of CM stock traded up $1.05 during mid-day trading on Wednesday, hitting $81.25. 32,893 shares of the stock traded hands, compared to its average volume of 574,168. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $96.98. The firm has a market cap of $35.68 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 8.32 and a beta of 1.17. The company’s 50-day simple moving average is $76.83 and its 200-day simple moving average is $80.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 0.87.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported $3.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.81. Canadian Imperial Bank of Commerce had a return on equity of 15.92% and a net margin of 18.39%. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the firm posted $3.08 earnings per share. Analysts forecast that Canadian Imperial Bank of Commerce will post 9.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a dividend of $1.091 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. This represents a $4.36 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date is Thursday, September 26th. Canadian Imperial Bank of Commerce’s payout ratio is presently 44.33%.

A number of brokerages have recently commented on CM. National Bank Financial reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 23rd. TD Securities downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Royal Bank of Canada reiterated a “hold” rating and issued a $124.00 target price (down previously from $128.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. Canaccord Genuity cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $120.67.

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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