Cumberland Partners Ltd Acquires 19,994 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Cumberland Partners Ltd grew its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 152.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,102 shares of the bank's stock after buying an additional 19,994 shares during the period. Cumberland Partners Ltd's holdings in Canadian Imperial Bank of Commerce were worth $2,033,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce in the first quarter valued at approximately $175,000. Atomi Financial Group Inc. purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter valued at approximately $232,000. Russell Investments Group Ltd. grew its holdings in Canadian Imperial Bank of Commerce by 21.8% during the first quarter. Russell Investments Group Ltd. now owns 450,419 shares of the bank's stock worth $22,826,000 after acquiring an additional 80,746 shares during the period. US Bancorp DE lifted its stake in shares of Canadian Imperial Bank of Commerce by 6.2% in the first quarter. US Bancorp DE now owns 13,994 shares of the bank's stock valued at $710,000 after purchasing an additional 821 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 5.3% during the 1st quarter. Bleakley Financial Group LLC now owns 6,208 shares of the bank's stock worth $315,000 after acquiring an additional 314 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Down 0.0 %

CM stock traded down $0.03 during mid-day trading on Tuesday, reaching $64.48. 628,947 shares of the stock traded hands, compared to its average volume of 1,405,177. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $60.91 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.86 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52-week low of $37.46 and a 52-week high of $65.09. The stock's fifty day moving average is $61.65 and its 200-day moving average is $53.99.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its earnings results 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. 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 period last year, the company earned $1.14 earnings per share. The business's revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 5.34 earnings per share for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were issued a $0.652 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.04%. Canadian Imperial Bank of Commerce's payout ratio is presently 52.46%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CM. Cormark raised shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 30th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research report on Friday, August 30th. BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an "outperform" 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 research report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Saturday, October 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $81.00.

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.