Caisse DE Depot ET Placement DU Quebec Has $79.54 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Caisse DE Depot ET Placement DU Quebec lessened its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,295,253 shares of the bank's stock after selling 169,123 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.14% of Canadian Imperial Bank of Commerce worth $79,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in Canadian Imperial Bank of Commerce by 17.9% in the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank's stock worth $1,233,272,000 after buying an additional 3,942,894 shares during the last quarter. National Bank of Canada FI boosted its stake in Canadian Imperial Bank of Commerce by 26.8% in the 2nd quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank's stock worth $867,377,000 after buying an additional 3,875,280 shares during the last quarter. Cibc World Market Inc. boosted its stake in Canadian Imperial Bank of Commerce by 18.9% in the 2nd quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank's stock worth $938,834,000 after buying an additional 3,143,734 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Canadian Imperial Bank of Commerce by 61.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank's stock worth $334,321,000 after buying an additional 2,681,428 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Canadian Imperial Bank of Commerce by 14.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank's stock valued at $652,676,000 after purchasing an additional 1,305,665 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com lowered Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Saturday, October 19th. Bank of America raised Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research report on Friday, August 30th. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. Finally, Cormark upgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $81.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM traded up $0.08 during midday trading on Friday, reaching $64.76. 263,765 shares of the company traded hands, compared to its average volume of 676,719. Canadian Imperial Bank of Commerce has a twelve month low of $39.90 and a twelve month high of $65.89. The firm has a market capitalization of $61.17 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.70 and a beta of 1.06. 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 company has a fifty day moving average price of $62.78 and a 200 day moving average price of $55.60.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. The business had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The company's revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. On average, analysts expect that Canadian Imperial Bank of Commerce will post 5.25 EPS for the current fiscal year.

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.