Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by Blue Trust Inc.

Blue Trust Inc. raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 571.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 732 shares of the bank’s stock after purchasing an additional 623 shares during the period. Blue Trust Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $45,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CM. Toronto Dominion Bank lifted its position in shares of Canadian Imperial Bank of Commerce by 17.9% in the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after acquiring an additional 3,942,894 shares in the last quarter. M&G Plc purchased a new position in shares of Canadian Imperial Bank of Commerce in the first quarter valued at approximately $8,221,000. Cetera Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the first quarter valued at approximately $1,278,000. Legal & General Group Plc lifted its position in shares of Canadian Imperial Bank of Commerce by 3.3% in the second quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock valued at $342,946,000 after acquiring an additional 228,130 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Canadian Imperial Bank of Commerce by 1,091.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 267,124 shares of the bank’s stock valued at $13,477,000 after acquiring an additional 244,700 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. Finally, StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $81.00.

Canadian Imperial Bank of Commerce Trading Up 0.7 %

Shares of NYSE CM opened at $62.97 on Friday. Canadian Imperial Bank of Commerce has a twelve month low of $35.96 and a twelve month high of $63.53. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $60.74 and a 200-day simple moving average of $53.21. The stock has a market capitalization of $59.48 billion, a PE ratio of 12.37, a PEG ratio of 1.91 and a beta of 1.07.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. On average, equities analysts forecast that Canadian Imperial Bank of Commerce will post 5.36 earnings per share for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were paid a dividend of $0.652 per share. The ex-dividend date was Friday, September 27th. This represents a $2.61 annualized dividend and a yield of 4.14%. Canadian Imperial Bank of Commerce’s payout ratio is 52.46%.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.