Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by World Asset Management Inc

World Asset Management Inc reduced its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,420 shares of the bank’s stock after selling 310 shares during the quarter. World Asset Management Inc’s holdings in Canadian Imperial Bank of Commerce were worth $504,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CM. Heritage Wealth Advisors acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter worth about $31,000. CWM LLC increased its stake in Canadian Imperial Bank of Commerce by 1,524.0% during the first quarter. CWM LLC now owns 406 shares of the bank’s stock worth $32,000 after acquiring an additional 381 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter worth about $32,000. Advisory Services Network LLC increased its stake in Canadian Imperial Bank of Commerce by 108.0% during the fourth quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock worth $33,000 after acquiring an additional 230 shares during the last quarter. Finally, Advisory Alpha LLC acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter worth about $41,000. Hedge funds and other institutional investors own 45.63% of the company’s stock.

Shares of NYSE CM traded down $0.49 on Friday, hitting $77.03. The company had a trading volume of 641,481 shares, compared to its average volume of 299,750. Canadian Imperial Bank of Commerce has a 12-month low of $72.96 and a 12-month high of $96.98. The company has a 50 day moving average price of $78.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $34.48 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 6.85 and a beta of 1.17.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Wednesday, May 22nd. The bank reported $2.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.22 by $0.75. Canadian Imperial Bank of Commerce had a return on equity of 16.30% and a net margin of 18.83%. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 8.99 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 5.40%. The ex-dividend date was Thursday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is 44.33%.

CM has been the subject of several research analyst reports. Canaccord Genuity lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Barclays lowered Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 11th. Desjardins downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. TD Securities downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $122.60.

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Featured Story: Sell-Side Analysts

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM).

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.