Canadian Imperial Bank of Commerce $CM Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. decreased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 173,781 shares of the bank’s stock after selling 12,801 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $15,746,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ethic Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 40.7% in the fourth quarter. Ethic Inc. now owns 5,693 shares of the bank’s stock valued at $516,000 after acquiring an additional 1,647 shares during the period. Ballentine Partners LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $225,000. Generali Asset Management SPA SGR grew its stake in shares of Canadian Imperial Bank of Commerce by 590.4% during the 4th quarter. Generali Asset Management SPA SGR now owns 18,302 shares of the bank’s stock worth $1,658,000 after purchasing an additional 15,651 shares during the period. Crestwood Advisors Group LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 5.4% during the 4th quarter. Crestwood Advisors Group LLC now owns 7,601 shares of the bank’s stock valued at $689,000 after purchasing an additional 388 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 1.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock valued at $880,000 after purchasing an additional 114 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on CM. Weiss Ratings downgraded shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, April 17th. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Scotiabank restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Trading Down 0.5%

Shares of CM stock opened at $110.00 on Friday. Canadian Imperial Bank of Commerce has a 1-year low of $63.44 and a 1-year high of $113.28. The company has a market cap of $101.01 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $101.71 and a 200-day simple moving average of $94.19.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $5.53 billion. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.69%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 EPS. On average, equities research analysts expect that Canadian Imperial Bank of Commerce will post 7.57 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Friday, March 27th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.77%.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.