Canadian Imperial Bank of Commerce (CM) Holdings Cut by Weather Gauge Advisory LLC

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Weather Gauge Advisory LLC trimmed its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,823 shares of the bank’s stock after selling 131 shares during the period. Weather Gauge Advisory LLC’s holdings in Canadian Imperial Bank of Commerce were worth $777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Liberty Wealth Management LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $31,000. Advisory Services Network LLC increased its position 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 purchasing an additional 230 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $37,000. Financial Gravity Companies Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $38,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $39,000. 46.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of CM stock traded down $0.01 during trading on Monday, reaching $82.52. The company’s stock had a trading volume of 284,821 shares, compared to its average volume of 400,975. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $36.58 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 4.85 and a beta of 1.14. Canadian Imperial Bank of Commerce has a 1-year low of $72.96 and a 1-year high of $96.98.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, February 28th. The bank reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.11). The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.51 billion. Canadian Imperial Bank of Commerce had a net margin of 19.44% and a return on equity of 16.70%. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 9.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be issued a $1.0616 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.15%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. Canadian Imperial Bank of Commerce’s payout ratio is 45.50%.

Several research firms recently issued reports on CM. Canaccord Genuity restated an “average” rating and set a $125.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, February 20th. Scotiabank restated an “average” rating and set a $126.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Friday, February 22nd. ValuEngine upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. Barclays restated an “average” rating and set a $123.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Friday, March 1st. Finally, Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $125.43.

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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.

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

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