Canadian Imperial Bank of Commerce (CM) Shares Sold by US Bancorp DE

US Bancorp DE lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,824 shares of the bank’s stock after selling 1,053 shares during the quarter. US Bancorp DE’s holdings in Canadian Imperial Bank of Commerce were worth $828,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CM. HighPoint Advisor Group LLC acquired a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $195,000. Mawer Investment Management Ltd. acquired a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $205,000. Iberiabank Corp acquired a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $217,000. Laurion Capital Management LP acquired a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $233,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $265,000. Institutional investors own 46.36% of the company’s stock.

CM opened at $85.30 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. The firm has a market cap of $37.93 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 1.61 and a beta of 1.18. Canadian Imperial Bank of Commerce has a 1 year low of $84.03 and a 1 year high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 23rd. The bank reported $3.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.22 by $0.86. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.39 billion. Canadian Imperial Bank of Commerce had a net margin of 21.27% and a return on equity of 17.77%. During the same period in the previous year, the firm earned $2.77 EPS. On average, analysts expect that Canadian Imperial Bank of Commerce will post 9.26 EPS for the current fiscal year.

A number of equities analysts have issued reports on CM shares. TheStreet raised shares of Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a report on Thursday, August 23rd. Canaccord Genuity reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday. Barclays reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, November 16th. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Tuesday, October 16th. Finally, ValuEngine raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $122.00.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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.

Read More: Return on Investment (ROI)

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

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