Ossiam Decreases Holdings in Canadian Imperial Bank of Commerce $CM

Ossiam decreased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 56.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,504 shares of the bank’s stock after selling 23,680 shares during the period. Ossiam’s holdings in Canadian Imperial Bank of Commerce were worth $1,311,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at approximately $730,245,000. Goldman Sachs Group Inc. lifted its position in Canadian Imperial Bank of Commerce by 405.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank’s stock worth $292,032,000 after buying an additional 4,160,938 shares during the last quarter. Vanguard Group Inc. boosted its stake in Canadian Imperial Bank of Commerce by 3.5% during the second quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock worth $2,939,385,000 after buying an additional 1,382,123 shares during the period. Fisher Asset Management LLC bought a new position in Canadian Imperial Bank of Commerce during the second quarter valued at $88,610,000. Finally, Geode Capital Management LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 19.7% in the second quarter. Geode Capital Management LLC now owns 7,547,548 shares of the bank’s stock valued at $542,697,000 after acquiring an additional 1,244,271 shares during the period. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE:CM opened at $91.81 on Thursday. The firm’s 50 day simple moving average is $84.09 and its 200-day simple moving average is $77.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.04. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $92.24. The firm has a market cap of $85.27 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.08. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.Canadian Imperial Bank of Commerce’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 earnings per share. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Monday, December 29th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, December 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 46.31%.

Analyst Ratings Changes

A number of analysts recently weighed in on CM shares. Raymond James Financial began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They issued a “market perform” rating on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Finally, Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.