Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,344,561 shares of the bank’s stock after selling 19,267 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $125,769,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CM. HighPoint Advisor Group LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $195,000. Providence Wealth Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $214,000. Iberiabank Corp bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $217,000. Mawer Investment Management Ltd. bought a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $205,000. Finally, Laurion Capital Management LP bought a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $233,000. Hedge funds and other institutional investors own 46.08% of the company’s stock.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday, November 9th. ValuEngine downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Finally, TheStreet downgraded Canadian Imperial Bank of Commerce from a “b-” rating to a “c+” rating in a report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $123.00.

CM opened at $86.37 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $38.09 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.61 and a beta of 1.18. Canadian Imperial Bank of Commerce has a 12-month low of $84.88 and a 12-month high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 23rd. The bank reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.86. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. During the same quarter in the prior year, the company earned $2.77 earnings per share. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 9.32 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Shareholders of record on Friday, September 28th were issued a $1.0412 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $4.16 dividend on an annualized basis and a yield of 4.82%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 46.91%.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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