Zions Bancorporation N.A. Has $5.43 Million Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Zions Bancorporation N.A. lowered its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,498 shares of the bank’s stock after selling 2,117 shares during the period. Zions Bancorporation N.A.’s holdings in Canadian Imperial Bank of Commerce were worth $5,428,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Toronto Dominion Bank grew its position in Canadian Imperial Bank of Commerce by 17.9% during the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock worth $1,233,272,000 after acquiring an additional 3,942,894 shares during the last quarter. National Bank of Canada FI grew its position in Canadian Imperial Bank of Commerce by 26.8% during the 2nd quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank’s stock worth $867,377,000 after acquiring an additional 3,875,280 shares during the last quarter. Cibc World Market Inc. grew its position in Canadian Imperial Bank of Commerce by 18.9% during the 2nd quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock worth $938,834,000 after acquiring an additional 3,143,734 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Canadian Imperial Bank of Commerce by 61.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank’s stock worth $334,321,000 after acquiring an additional 2,681,428 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Canadian Imperial Bank of Commerce by 41.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,589,611 shares of the bank’s stock worth $283,642,000 after acquiring an additional 1,634,651 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Down 0.6 %

Shares of Canadian Imperial Bank of Commerce stock opened at $64.04 on Thursday. Canadian Imperial Bank of Commerce has a one year low of $37.97 and a one year high of $65.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50-day moving average is $61.88 and its 200 day moving average is $54.17. The firm has a market cap of $60.49 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.86 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The company had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.34 EPS for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were paid a dividend of $0.652 per share. This represents a $2.61 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Ratings Changes

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

Canadian Imperial Bank of Commerce Company 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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.