OMERS ADMINISTRATION Corp Sells 1,249,511 Shares of Canadian Imperial Bank of Commerce $CM

OMERS ADMINISTRATION Corp reduced its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 66.2% during the first quarter, Holdings Channel reports. The institutional investor owned 636,799 shares of the bank’s stock after selling 1,249,511 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Canadian Imperial Bank of Commerce were worth $60,159,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $262,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 12.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock worth $128,000 after purchasing an additional 193 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 2.6% in the 2nd quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock worth $445,000 after purchasing an additional 160 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Canadian Imperial Bank of Commerce by 74.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 336,017 shares of the bank’s stock valued at $23,833,000 after purchasing an additional 143,588 shares during the period. Finally, NewEdge Advisors LLC grew its position in Canadian Imperial Bank of Commerce by 7,315.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,966 shares of the bank’s stock valued at $210,000 after purchasing an additional 2,926 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 0.8%

Shares of Canadian Imperial Bank of Commerce stock opened at $117.41 on Friday. The company has a market capitalization of $107.17 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.02. The stock has a fifty day simple moving average of $114.03 and a 200 day simple moving average of $104.47. Canadian Imperial Bank of Commerce has a 12-month low of $71.00 and a 12-month high of $122.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.08. The business had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The business’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the business earned $2.05 EPS. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.37 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 42.58%.

Analyst Ratings Changes

CM has been the subject of a number of recent research reports. Zacks Research lowered shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, June 16th. Weiss Ratings downgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Finally, Royal Bank Of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.