Candriam Luxembourg S.C.A. lessened its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,919 shares of the bank’s stock after selling 3,893 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Canadian Imperial Bank of Commerce were worth $9,824,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. HighPoint Advisor Group LLC purchased a new position in Canadian Imperial Bank of Commerce during the third quarter worth about $195,000. Mawer Investment Management Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth about $205,000. Providence Wealth Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth about $214,000. Iberiabank Corp purchased a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth about $217,000. Finally, Laurion Capital Management LP purchased a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth about $233,000. 46.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CM traded up $0.17 during mid-day trading on Friday, hitting $80.78. The stock had a trading volume of 401,775 shares, compared to its average volume of 313,766. The firm has a market cap of $35.70 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 1.55 and a beta of 1.18. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.12. Canadian Imperial Bank of Commerce has a fifty-two week low of $79.51 and a fifty-two week high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, November 29th. The bank reported $3.00 EPS for the quarter, topping the consensus estimate of $2.27 by $0.73. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.59 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.35% and a net margin of 20.85%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.81 EPS. On average, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 9.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 28th. Investors of record on Friday, December 28th will be issued a $1.034 dividend. This represents a $4.14 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Thursday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 44.65%.

A number of equities research analysts have recently issued reports on the company. Scotiabank reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, November 30th. BMO Capital Markets reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, November 30th. Barclays reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, November 29th. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Monday, November 26th. Finally, Canaccord Genuity restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, November 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of $121.33.

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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.

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

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