Natixis Advisors LLC Has $2.88 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Natixis Advisors LLC raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,892 shares of the bank’s stock after purchasing an additional 3,836 shares during the period. Natixis Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $2,876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its position in Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after buying an additional 171 shares in the last quarter. PDS Planning Inc increased its holdings in shares of Canadian Imperial Bank of Commerce by 4.7% during the third quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock valued at $305,000 after acquiring an additional 224 shares in the last quarter. Simplicity Wealth LLC raised its position in shares of Canadian Imperial Bank of Commerce by 3.9% during the second quarter. Simplicity Wealth LLC now owns 6,448 shares of the bank’s stock worth $307,000 after purchasing an additional 240 shares during the period. First Bank & Trust lifted its holdings in shares of Canadian Imperial Bank of Commerce by 0.8% in the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock worth $2,555,000 after purchasing an additional 351 shares in the last quarter. Finally, Lantz Financial LLC grew its position in Canadian Imperial Bank of Commerce by 7.1% in the 2nd quarter. Lantz Financial LLC now owns 5,824 shares of the bank’s stock valued at $277,000 after purchasing an additional 385 shares during the period. Institutional investors own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CM shares. BMO Capital Markets upped their price objective on shares of 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. Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Desjardins raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 2nd. 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. Finally, StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $65.42 on Monday. 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 company has a market capitalization of $61.80 billion, a PE ratio of 12.85, a PEG ratio of 1.71 and a beta of 1.06. The stock’s 50 day moving average price is $62.44 and its 200-day moving average price is $55.05. Canadian Imperial Bank of Commerce has a twelve month low of $37.97 and a twelve month high of $65.54.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. The firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS. On average, equities 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 business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders 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 3.99%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 52.26%.

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.