Northwest & Ethical Investments L.P. Has $11.89 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Northwest & Ethical Investments L.P. decreased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 193,814 shares of the bank’s stock after selling 5,328 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Canadian Imperial Bank of Commerce were worth $11,890,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CM. Ridgewood Investments LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the second quarter valued at $29,000. BNP Paribas Financial Markets bought a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $44,000. Blue Trust Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after buying an additional 623 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after acquiring an additional 171 shares during the period. Finally, City State Bank acquired a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $61,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.1 %

CM traded down $0.05 during mid-day trading on Thursday, reaching $64.68. The stock had a trading volume of 839,403 shares, compared to its average volume of 1,372,133. The firm’s fifty day simple moving average is $62.66 and its two-hundred day simple moving average is $55.34. The stock has a market capitalization of $61.10 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.71 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52 week low of $37.97 and a 52 week high of $65.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share (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 business had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter last year, the business earned $1.14 earnings per share. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 5.27 EPS for the current year.

Analyst Ratings Changes

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