CLARET ASSET MANAGEMENT Corp Sells 817 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

CLARET ASSET MANAGEMENT Corp decreased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,196 shares of the bank’s stock after selling 817 shares during the period. CLARET ASSET MANAGEMENT Corp’s holdings in Canadian Imperial Bank of Commerce were worth $3,400,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Townsend & Associates Inc boosted its stake in Canadian Imperial Bank of Commerce by 12.9% during the third quarter. Townsend & Associates Inc now owns 27,639 shares of the bank’s stock worth $2,226,000 after acquiring an additional 3,156 shares in the last quarter. Hexavest Inc. bought a new position in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $11,908,000. Nexus Investment Management Inc. lifted its position in Canadian Imperial Bank of Commerce by 12.8% during the third quarter. Nexus Investment Management Inc. now owns 39,020 shares of the bank’s stock valued at $3,220,000 after purchasing an additional 4,432 shares during the period. Addenda Capital Inc. increased its holdings in Canadian Imperial Bank of Commerce by 20.3% during the third quarter. Addenda Capital Inc. now owns 57,250 shares of the bank’s stock valued at $4,789,000 after buying an additional 9,650 shares during the last quarter. Finally, Allred Capital Management LLC purchased a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 44.54% of the company’s stock.

Shares of CM traded up $1.56 during trading on Friday, reaching $83.34. The company’s stock had a trading volume of 234,309 shares, compared to its average volume of 733,783. The company has a fifty day moving average of $80.04 and a two-hundred day moving average of $79.65. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $90.18. The company has a market cap of $36.38 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 2.93 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, August 22nd. The bank reported $3.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.81. Canadian Imperial Bank of Commerce had a return on equity of 15.92% and a net margin of 18.39%. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the company posted $3.08 EPS. As a group, equities analysts forecast that Canadian Imperial Bank of Commerce will post 9.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a dividend of $1.091 per share. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. This represents a $4.36 annualized dividend and a yield of 5.24%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 46.36%.

Several brokerages have recently issued reports on CM. ValuEngine upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, August 20th. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. Finally, Royal Bank of Canada restated a “hold” rating and set a $124.00 target price (down from $128.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. Ten equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus target price of $120.67.

Canadian Imperial Bank of Commerce Company 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.

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

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