NBC Securities Inc. Has $114,000 Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

NBC Securities Inc. lessened its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 14.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,867 shares of the bank’s stock after selling 321 shares during the quarter. NBC Securities Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its position in Canadian Imperial Bank of Commerce by 11.8% during the 1st quarter. Park Avenue Securities LLC now owns 9,078 shares of the bank’s stock worth $460,000 after acquiring an additional 955 shares during the last quarter. Gulf International Bank UK Ltd lifted its holdings in Canadian Imperial Bank of Commerce by 3.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 6,390 shares of the bank’s stock valued at $324,000 after purchasing an additional 236 shares during the last quarter. Affinity Capital Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 1st quarter valued at $431,000. Addenda Capital Inc. boosted its position in Canadian Imperial Bank of Commerce by 13.8% during the first quarter. Addenda Capital Inc. now owns 259,520 shares of the bank’s stock worth $13,163,000 after purchasing an additional 31,502 shares during the period. Finally, Independence Bank of Kentucky increased its holdings in shares of Canadian Imperial Bank of Commerce by 37.8% in the first quarter. Independence Bank of Kentucky now owns 3,646 shares of the bank’s stock valued at $185,000 after purchasing an additional 1,000 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Up 0.0 %

NYSE CM opened at $62.66 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of $34.35 and a 12 month high of $63.02. 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 firm has a market capitalization of $59.09 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The business’s 50-day moving average price is $58.68 and its two-hundred day moving average price is $52.28.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results 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 business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, analysts expect that Canadian Imperial Bank of Commerce will post 5.36 EPS for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $0.652 dividend. This represents a $2.61 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 54.73%.

Wall Street Analyst Weigh In

CM has been the subject of several research analyst reports. Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. UBS Group started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 2nd. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. Finally, StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently 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.