Optimum Investment Advisors Sells 165 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Optimum Investment Advisors trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,127 shares of the bank’s stock after selling 165 shares during the quarter. Optimum Investment Advisors’ holdings in Canadian Imperial Bank of Commerce were worth $94,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its stake in Canadian Imperial Bank of Commerce by 46.7% during the 2nd quarter. Mackenzie Financial Corp now owns 2,443,838 shares of the bank’s stock valued at $191,988,000 after buying an additional 778,230 shares during the last quarter. Alberta Investment Management Corp grew its holdings in shares of Canadian Imperial Bank of Commerce by 63.7% in the third quarter. Alberta Investment Management Corp now owns 1,771,200 shares of the bank’s stock worth $146,231,000 after acquiring an additional 689,000 shares during the period. Hexavest Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce by 338.0% in the fourth quarter. Hexavest Inc. now owns 631,725 shares of the bank’s stock worth $52,643,000 after acquiring an additional 487,488 shares during the period. Letko Brosseau & Associates Inc. increased its position in Canadian Imperial Bank of Commerce by 12.5% during the third quarter. Letko Brosseau & Associates Inc. now owns 2,986,797 shares of the bank’s stock valued at $246,591,000 after acquiring an additional 330,860 shares during the last quarter. Finally, Cardinal Capital Management Inc. increased its position in Canadian Imperial Bank of Commerce by 50.2% during the fourth quarter. Cardinal Capital Management Inc. now owns 940,581 shares of the bank’s stock valued at $78,383,000 after acquiring an additional 314,221 shares during the last quarter. Institutional investors and hedge funds own 44.50% of the company’s stock.

CM has been the topic of several research reports. Canaccord Genuity dropped their target price on Canadian Imperial Bank of Commerce from $112.50 to $108.00 and set a “hold” rating on the stock in a research report on Friday, December 6th. Citigroup lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. Credit Suisse Group decreased their target price on Canadian Imperial Bank of Commerce from $105.00 to $104.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Finally, ValuEngine upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Twelve equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $113.67.

Shares of Canadian Imperial Bank of Commerce stock opened at $83.02 on Friday. The firm has a market cap of $36.94 billion, a PE ratio of 9.88, a P/E/G ratio of 1.82 and a beta of 1.14. Canadian Imperial Bank of Commerce has a twelve month low of $73.20 and a twelve month high of $87.62. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $83.10 and a 200 day moving average price of $81.80.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, December 5th. The bank reported $2.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.52. Canadian Imperial Bank of Commerce had a return on equity of 15.57% and a net margin of 17.72%. The firm had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the company posted $3.00 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 9.11 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be issued a $1.0908 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $4.36 annualized dividend and a yield of 5.26%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.38%.

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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