Fiera Capital Corp Grows Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Fiera Capital Corp increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,881 shares of the bank’s stock after acquiring an additional 772 shares during the quarter. Fiera Capital Corp’s holdings in Canadian Imperial Bank of Commerce were worth $2,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CM. Gold Investment Management Ltd. grew its holdings in Canadian Imperial Bank of Commerce by 0.7% during the 3rd quarter. Gold Investment Management Ltd. now owns 54,225 shares of the bank’s stock valued at $3,326,000 after buying an additional 387 shares in the last quarter. PDS Planning Inc grew its holdings in Canadian Imperial Bank of Commerce by 4.7% during the 3rd quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock valued at $305,000 after buying an additional 224 shares in the last quarter. Van ECK Associates Corp grew its holdings in Canadian Imperial Bank of Commerce by 31.3% during the 3rd quarter. Van ECK Associates Corp now owns 205,124 shares of the bank’s stock valued at $12,873,000 after buying an additional 48,843 shares in the last quarter. US Bancorp DE grew its holdings in Canadian Imperial Bank of Commerce by 6.3% during the 3rd quarter. US Bancorp DE now owns 15,280 shares of the bank’s stock valued at $937,000 after buying an additional 906 shares in the last quarter. Finally, Financial Advocates Investment Management purchased a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $223,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CM. Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Desjardins raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 2nd. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Finally, StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Trading Down 0.5 %

CM stock opened at $64.33 on Friday. The firm has a fifty day moving average price of $61.53 and a 200 day moving average price of $53.78. Canadian Imperial Bank of Commerce has a fifty-two week low of $37.29 and a fifty-two week high of $64.79. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $60.77 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. The company had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. Canadian Imperial Bank of Commerce’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.34 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were given a $0.652 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a yield of 4.05%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.46%.

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.