Value Partners Investments Inc. Lowers Stake in Canadian Imperial Bank of Commerce $CM

Value Partners Investments Inc. lessened its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 792,321 shares of the bank’s stock after selling 71,896 shares during the period. Canadian Imperial Bank of Commerce makes up 5.5% of Value Partners Investments Inc.’s portfolio, making the stock its 3rd biggest position. Value Partners Investments Inc. owned about 0.09% of Canadian Imperial Bank of Commerce worth $71,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CM. Parallel Advisors LLC boosted its holdings in Canadian Imperial Bank of Commerce by 3.5% during the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock valued at $272,000 after purchasing an additional 116 shares in the last quarter. Brown Advisory Inc. raised 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 buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 8.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the bank’s stock worth $157,000 after buying an additional 161 shares during the period. Checchi Capital Advisers LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 3.7% during the 3rd quarter. Checchi Capital Advisers LLC now owns 4,799 shares of the bank’s stock worth $383,000 after buying an additional 169 shares during the period. Finally, Pacifica Partners Inc. boosted its stake in Canadian Imperial Bank of Commerce by 12.1% in the 3rd quarter. Pacifica Partners Inc. now owns 1,756 shares of the bank’s stock valued at $141,000 after buying an additional 190 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

CM has been the topic of a number of analyst reports. Zacks Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Raymond James Financial began coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating for the company. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, March 10th. Finally, Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Stock Down 1.3%

Shares of CM opened at $94.24 on Friday. The company has a market capitalization of $87.12 billion, a P/E ratio of 13.74, a PEG ratio of 0.98 and a beta of 1.00. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $105.00. The business’s 50 day simple moving average is $96.13 and its 200-day simple moving average is $88.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results 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 analysts’ expectations of $5.53 billion. During the same period last year, the firm posted $2.20 EPS. The business’s 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 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 44.61%.

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.