Park Place Capital Corp Sells 1,430 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Park Place Capital Corp lessened its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 15.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,011 shares of the bank’s stock after selling 1,430 shares during the period. Park Place Capital Corp’s holdings in Canadian Imperial Bank of Commerce were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CM. Bruce G. Allen Investments LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth about $33,000. Glassman Wealth Services lifted its stake in Canadian Imperial Bank of Commerce by 57.5% in the fourth quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after buying an additional 253 shares during the period. Janiczek Wealth Management LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after buying an additional 222 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 574.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after buying an additional 908 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $64,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.5 %

CM opened at $47.28 on Tuesday. The firm has a market capitalization of $44.59 billion, a PE ratio of 9.73, a P/E/G ratio of 1.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $34.35 and a fifty-two week high of $51.14. The company’s 50-day moving average is $48.37 and its 200 day moving average is $47.82.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, May 30th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.22 by $0.07. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.48 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.06% and a net margin of 10.46%. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.653 per share. This represents a $2.61 annualized dividend and a yield of 5.52%. The ex-dividend date is Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 53.70%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CM. UBS Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday. They set a “neutral” rating on the stock. BMO Capital Markets increased their price objective on shares of Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. Barclays started coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an “underweight” rating on the stock. Finally, StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.00.

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.