Mufg Securities Canada LTD. Decreases Stock Position in Canadian Imperial Bank of Commerce $CM

Mufg Securities Canada LTD. reduced its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 5.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,301,918 shares of the bank’s stock after selling 75,729 shares during the period. Canadian Imperial Bank of Commerce makes up 4.0% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 9th biggest position. Mufg Securities Canada LTD.’s holdings in Canadian Imperial Bank of Commerce were worth $149,684,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Sivia Capital Partners LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth about $262,000. EverSource Wealth Advisors LLC boosted its stake in Canadian Imperial Bank of Commerce by 12.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock worth $128,000 after buying an additional 193 shares in the last quarter. Brown Advisory Inc. grew its position in Canadian Imperial Bank of Commerce by 2.6% during the second quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after acquiring an additional 160 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Canadian Imperial Bank of Commerce by 74.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 336,017 shares of the bank’s stock worth $23,833,000 after acquiring an additional 143,588 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 7,315.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,966 shares of the bank’s stock valued at $210,000 after purchasing an additional 2,926 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $113.49 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $103.60 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The stock’s 50 day moving average price is $117.45 and its 200-day moving average price is $109.19. Canadian Imperial Bank of Commerce has a 52-week low of $76.10 and a 52-week high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.74 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%. On average, equities research analysts predict that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Monday, September 28th will be issued a $1.07 dividend. The ex-dividend date is Monday, September 28th. This represents a $4.28 annualized dividend and a yield of 3.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 41.39%.

Canadian Imperial Bank of Commerce 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.