Lincluden Management Ltd. Has $30.65 Million Stake in Canadian Imperial Bank of Commerce $CM

Lincluden Management Ltd. reduced its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.9% during the third quarter, HoldingsChannel reports. The firm owned 385,862 shares of the bank’s stock after selling 47,282 shares during the period. Canadian Imperial Bank of Commerce comprises approximately 3.5% of Lincluden Management Ltd.’s portfolio, making the stock its 12th largest holding. Lincluden Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $30,651,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Salem Investment Counselors Inc. acquired a new position in Canadian Imperial Bank of Commerce in the third quarter valued at $30,000. Toth Financial Advisory Corp bought a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at $32,000. AdvisorNet Financial Inc grew its holdings in Canadian Imperial Bank of Commerce by 300.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock worth $32,000 after acquiring an additional 300 shares during the period. Larson Financial Group LLC grew its holdings in Canadian Imperial Bank of Commerce by 119.7% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after acquiring an additional 219 shares during the period. Finally, Grey Fox Wealth Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth about $34,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $97.54 on Tuesday. The firm’s 50-day moving average price is $95.75 and its 200-day moving average price is $88.45. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $105.00. The firm has a market capitalization of $90.17 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.99 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, beating the consensus estimate 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 company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period last year, the business posted $2.20 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 44.61%.

Wall Street Analysts Forecast Growth

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

Canadian Imperial Bank of Commerce Company 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.