Versor Investments LP Sells 13,004 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Versor Investments LP lowered its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 68.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,055 shares of the bank's stock after selling 13,004 shares during the quarter. Versor Investments LP's holdings in Canadian Imperial Bank of Commerce were worth $371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CM. BNP Paribas Financial Markets bought a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $175,000. US Bancorp DE boosted its position in 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 worth $710,000 after purchasing an additional 821 shares during the last quarter. Bleakley Financial Group LLC increased its position 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 valued at $315,000 after purchasing an additional 314 shares during the last quarter. M&G Plc purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter valued at $8,221,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth $201,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Canadian Imperial Bank of Commerce Price Performance

NYSE CM traded down $0.32 on Friday, reaching $63.58. 925,699 shares of the company's stock traded hands, compared to its average volume of 1,394,758. The stock has a market cap of $60.06 billion, a PE ratio of 12.49, a P/E/G ratio of 1.85 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 12 month low of $37.97 and a 12 month high of $65.09. The stock has a 50-day simple moving average of $62.05 and a 200 day simple moving average of $54.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its earnings results on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating the consensus estimate 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 company had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the firm earned $1.14 EPS. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, research analysts predict 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 declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were paid a $0.652 dividend. This represents a $2.61 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce's payout ratio is currently 52.26%.

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.