Guardian Capital Advisors LP Sells 787 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Guardian Capital Advisors LP decreased its position in Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 0.2% in the 4th quarter, Holdings Channel reports. The fund owned 494,087 shares of the bank’s stock after selling 787 shares during the period. Canadian Imperial Bank of Commerce accounts for 2.5% of Guardian Capital Advisors LP’s holdings, making the stock its 8th biggest holding. Guardian Capital Advisors LP’s holdings in Canadian Imperial Bank of Commerce were worth $24,001,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Park Avenue Securities LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $275,000. Assetmark Inc. raised its holdings in Canadian Imperial Bank of Commerce by 11.6% in the third quarter. Assetmark Inc. now owns 13,630 shares of the bank’s stock valued at $526,000 after acquiring an additional 1,418 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Canadian Imperial Bank of Commerce by 10.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,093,022 shares of the bank’s stock valued at $81,017,000 after acquiring an additional 204,455 shares during the last quarter. Lorne Steinberg Wealth Management Inc. grew its holdings in Canadian Imperial Bank of Commerce by 13.2% during the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 147,511 shares of the bank’s stock worth $5,720,000 after acquiring an additional 17,242 shares in the last quarter. Finally, Triumph Capital Management increased its position in shares of Canadian Imperial Bank of Commerce by 10.2% in the 3rd quarter. Triumph Capital Management now owns 5,403 shares of the bank’s stock worth $209,000 after purchasing an additional 500 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on CM shares. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. Barclays assumed coverage on Canadian Imperial Bank of Commerce in a report on Wednesday, March 20th. They issued an “underweight” rating for the company. Finally, Jefferies Financial Group started coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus price target of $63.00.

Read Our Latest Report on CM

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock traded down $0.31 on Tuesday, reaching $48.99. 845,061 shares of the company were exchanged, compared to its average volume of 1,672,943. The firm has a market cap of $45.95 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 2.33 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $51.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50-day moving average is $48.93 and its two-hundred day moving average is $45.61.

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) last issued its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.47 billion. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.03 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Thursday, March 28th were given a dividend of $0.6634 per share. The ex-dividend date was Wednesday, March 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. This represents a $2.65 annualized dividend and a dividend yield of 5.42%. Canadian Imperial Bank of Commerce’s payout ratio is currently 54.75%.

Canadian Imperial Bank of Commerce Profile

(Free Report)

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.

See Also

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

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