Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 14.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,990,237 shares of the bank's stock after selling 1,339,228 shares during the quarter. Canadian Imperial Bank of Commerce accounts for approximately 1.2% of Healthcare of Ontario Pension Plan Trust Fund's holdings, making the stock its 13th largest position. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.85% of Canadian Imperial Bank of Commerce worth $490,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CM. Ridgewood Investments LLC purchased a new stake in Canadian Imperial Bank of Commerce during the second quarter valued at approximately $29,000. BNP Paribas Financial Markets purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth $44,000. Blue Trust Inc. raised its holdings in Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank's stock worth $45,000 after purchasing an additional 623 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Canadian Imperial Bank of Commerce during the second quarter valued at $51,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock valued at $56,000 after purchasing an additional 171 shares during the period. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Down 0.1 %

Shares of CM traded down $0.05 during mid-day trading on Wednesday, hitting $64.68. 839,403 shares of the company traded hands, compared to its average volume of 1,372,133. The company has a market capitalization of $61.10 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.71 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $62.58 and a 200 day moving average of $55.27. Canadian Imperial Bank of Commerce has a 1-year low of $37.97 and a 1-year high of $65.89.

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 analysts' consensus estimates of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The business's quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.27 EPS for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were paid 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 4.03%. Canadian Imperial Bank of Commerce's payout ratio is currently 52.46%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Cormark raised Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a report on Friday, August 30th. 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. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Saturday, October 19th. BMO Capital Markets lifted their target price 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. Finally, Bank of America raised Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of "Hold" and a consensus target price 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.