Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,435 shares of the bank’s stock after buying an additional 756 shares during the period. Verdence Capital Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in Canadian Imperial Bank of Commerce by 17.9% in the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after purchasing an additional 3,942,894 shares during the period. National Bank of Canada FI raised its holdings in Canadian Imperial Bank of Commerce by 26.8% in the 2nd quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank’s stock valued at $867,377,000 after buying an additional 3,875,280 shares during the period. Cibc World Market Inc. lifted its position in Canadian Imperial Bank of Commerce by 18.9% in the second quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock valued at $938,834,000 after buying an additional 3,143,734 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Canadian Imperial Bank of Commerce by 61.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank’s stock worth $334,321,000 after buying an additional 2,681,428 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Canadian Imperial Bank of Commerce by 41.3% during the first quarter. Canada Pension Plan Investment Board now owns 5,589,611 shares of the bank’s stock valued at $283,642,000 after acquiring an additional 1,634,651 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Down 0.5 %

NYSE:CM opened at $64.33 on Monday. The stock has a fifty day moving average price of $61.53 and a 200 day moving average price of $53.82. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 12-month low of $37.29 and a 12-month high of $64.79. The firm has a market cap of $60.77 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were issued a $0.652 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.05%. Canadian Imperial Bank of Commerce’s payout ratio is 52.46%.

Wall Street Analyst Weigh In

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

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.