DekaBank Deutsche Girozentrale Trims Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

DekaBank Deutsche Girozentrale lowered its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,356 shares of the bank’s stock after selling 3,631 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Canadian Imperial Bank of Commerce were worth $10,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $110,000. International Assets Investment Management LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $38,700,000. Tobam boosted its holdings in Canadian Imperial Bank of Commerce by 7.3% during the fourth quarter. Tobam now owns 7,316 shares of the bank’s stock worth $354,000 after buying an additional 499 shares in the last quarter. Cerity Partners LLC acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at $471,000. Finally, Janiczek Wealth Management LLC grew its position in Canadian Imperial Bank of Commerce by 34.9% during the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after buying an additional 222 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Trading Down 1.5 %

CM traded down $0.75 during mid-day trading on Friday, hitting $49.77. 1,650,880 shares of the stock were exchanged, compared to its average volume of 1,197,326. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The company has a market cap of $46.94 billion, a PE ratio of 10.24, a PEG ratio of 1.99 and a beta of 1.06. The firm’s fifty day moving average is $49.07 and its two-hundred day moving average is $48.25. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $52.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, May 30th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.07. Canadian Imperial Bank of Commerce had a return on equity of 13.06% and a net margin of 10.46%. The business had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were given a dividend of $0.653 per share. The ex-dividend date was Friday, June 28th. This represents a $2.61 annualized dividend and a dividend yield of 5.25%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 54.32%.

Analyst Ratings Changes

CM has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a report on Monday, June 3rd. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. UBS Group assumed coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 2nd. They set a “neutral” rating for the company. Finally, BMO Capital Markets raised their target price on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus price target of $67.00.

About Canadian Imperial Bank of Commerce

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.