Canadian Imperial Bank of Commerce $CM Shares Sold by LRT Capital Management LLC

LRT Capital Management LLC lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 43.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,467 shares of the bank’s stock after selling 15,242 shares during the period. Canadian Imperial Bank of Commerce comprises 1.5% of LRT Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. LRT Capital Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after purchasing an additional 219 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $37,000. Smartleaf Asset Management LLC raised its position in Canadian Imperial Bank of Commerce by 128.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock valued at $58,000 after purchasing an additional 406 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $69,000. Finally, Parkside Financial Bank & Trust raised its position in Canadian Imperial Bank of Commerce by 2,758.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 829 shares of the bank’s stock valued at $75,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings lowered Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 4th. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, June 1st. Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Scotiabank lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Monday, June 1st. Finally, Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Trading Up 1.5%

CM opened at $113.51 on Friday. The firm has a market cap of $103.61 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.22 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 52 week low of $67.46 and a 52 week high of $117.05. The business’s 50 day moving average is $108.86 and its two-hundred day moving average is $99.12. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping the consensus estimate of $1.78 by $0.08. The company had revenue of $5.89 billion for the quarter, compared to analyst estimates 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 firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 3.8%. Canadian Imperial Bank of Commerce’s payout ratio is 43.13%.

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.