Canadian Imperial Bank of Commerce $CM Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,388 shares of the bank’s stock after selling 4,576 shares during the period. Chesley Taft & Associates LLC’s holdings in Canadian Imperial Bank of Commerce were worth $8,095,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CM. Sequoia Financial Advisors LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 1.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock valued at $880,000 after acquiring an additional 114 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Canadian Imperial Bank of Commerce by 3.5% in the 3rd quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock worth $272,000 after purchasing an additional 116 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Canadian Imperial Bank of Commerce by 3.1% during the fourth quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock worth $347,000 after purchasing an additional 116 shares during the period. McIlrath & Eck LLC boosted its position in Canadian Imperial Bank of Commerce by 7.1% during the fourth quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock worth $175,000 after purchasing an additional 128 shares during the period. Finally, Bridgewater Advisors Inc. grew its holdings in Canadian Imperial Bank of Commerce by 4.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank’s stock valued at $311,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at $118.79 on Friday. The stock’s 50 day simple moving average is $115.03 and its 200-day simple moving average is $106.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a market cap of $108.44 billion, a PE ratio of 16.32, a P/E/G ratio of 1.28 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1 year low of $72.07 and a 1 year high of $122.50.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.08. The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The company’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 EPS. Sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.35 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 42.58%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Desjardins cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.