Canadian Imperial Bank of Commerce $CM Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. reduced its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 21.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,203 shares of the bank’s stock after selling 7,166 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $2,374,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CM. Canerector Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 11,021.0% during the 3rd quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock valued at $1,776,913,000 after acquiring an additional 22,042,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Canadian Imperial Bank of Commerce by 10.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,349,841 shares of the bank’s stock valued at $826,866,000 after purchasing an additional 980,811 shares in the last quarter. Nicola Wealth Management LTD. purchased a new position in Canadian Imperial Bank of Commerce in the third quarter valued at about $75,920,000. Vanguard Group Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 43,097,841 shares of the bank’s stock worth $3,907,078,000 after purchasing an additional 876,974 shares in the last quarter. Finally, Picton Mahoney Asset Management lifted its stake in shares of Canadian Imperial Bank of Commerce by 69.1% during the third quarter. Picton Mahoney Asset Management now owns 1,477,258 shares of the bank’s stock worth $118,022,000 after purchasing an additional 603,540 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CM. Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday. Weiss Ratings cut shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, April 17th. Finally, Scotiabank restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, May 4th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Trading Up 1.7%

NYSE:CM opened at $111.98 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. Canadian Imperial Bank of Commerce has a one year low of $65.36 and a one year high of $113.28. The business’s 50-day simple moving average is $102.66 and its 200 day simple moving average is $95.23. The stock has a market cap of $102.83 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.13 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same quarter last year, the firm earned $2.20 EPS. Canadian Imperial Bank of Commerce’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 7.57 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.63%.

Canadian Imperial Bank of Commerce Profile

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.