Lincluden Management Ltd. Sells 82,615 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Lincluden Management Ltd. reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 13.8% during the second quarter, Holdings Channel.com reports. The fund owned 514,055 shares of the bank’s stock after selling 82,615 shares during the period. Canadian Imperial Bank of Commerce makes up about 5.6% of Lincluden Management Ltd.’s portfolio, making the stock its 4th biggest position. Lincluden Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $58,517,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital Analysts LLC lifted its stake in Canadian Imperial Bank of Commerce by 764.5% in the first quarter. Capital Analysts LLC now owns 268 shares of the bank’s stock valued at $26,000 after buying an additional 237 shares during the period. Stonebridge Capital Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce in the first quarter valued at approximately $34,000. BDO Wealth Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce in the first quarter valued at approximately $60,000. Arkadios Wealth Advisors lifted its stake in Canadian Imperial Bank of Commerce by 214.5% in the second quarter. Arkadios Wealth Advisors now owns 544 shares of the bank’s stock valued at $61,000 after buying an additional 371 shares during the period. Finally, Credit Agricole S A acquired a new position in Canadian Imperial Bank of Commerce in the first quarter valued at approximately $90,000. 42.97% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on CM. Desjardins boosted their price target on Canadian Imperial Bank of Commerce from C$150.00 to C$154.00 and gave the company a “hold” rating in a research note on Monday, August 30th. Barclays upped their target price on Canadian Imperial Bank of Commerce from $150.00 to $157.00 and gave the stock an “overweight” rating in a research report on Friday, August 13th. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, August 11th. TD Securities upped their target price on Canadian Imperial Bank of Commerce from C$155.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, August 27th. Finally, Scotiabank upped their target price on Canadian Imperial Bank of Commerce from C$166.00 to C$168.00 and gave the stock an “outperform” rating in a research report on Friday, August 27th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $157.56.

Canadian Imperial Bank of Commerce stock traded down $0.36 during trading on Monday, hitting $114.89. 7,516 shares of the company were exchanged, compared to its average volume of 486,765. The business’s 50 day moving average is $115.66 and its 200 day moving average is $111.04. Canadian Imperial Bank of Commerce has a 52 week low of $72.07 and a 52 week high of $121.11. The company has a market capitalization of $51.67 billion, a P/E ratio of 11.19, a PEG ratio of 0.91 and a beta of 1.13. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Wednesday, August 25th. The bank reported $3.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.65 by $1.28. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.96 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.40% and a net margin of 26.13%. During the same quarter in the prior year, the company posted $2.71 earnings per share. Equities analysts expect that Canadian Imperial Bank of Commerce will post 11.54 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 28th. Shareholders of record on Tuesday, September 28th will be paid a $1.1561 dividend. The ex-dividend date of this dividend is Monday, September 27th. This represents a $4.62 dividend on an annualized basis and a yield of 4.03%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 67.13%.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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