Sawtooth Solutions LLC Trims Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Sawtooth Solutions LLC lessened its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,739 shares of the bank’s stock after selling 599 shares during the period. Sawtooth Solutions LLC’s holdings in Canadian Imperial Bank of Commerce were worth $454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Liberty Wealth Management LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $31,000. Heritage Wealth Advisors acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter valued at $31,000. CWM LLC grew its position in Canadian Imperial Bank of Commerce by 1,524.0% during the first quarter. CWM LLC now owns 406 shares of the bank’s stock valued at $32,000 after buying an additional 381 shares during the period. Advisory Services Network LLC grew its position in Canadian Imperial Bank of Commerce by 108.0% during the fourth quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock valued at $33,000 after buying an additional 230 shares during the period. Finally, Capital Investment Advisory Services LLC acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at $37,000. 45.63% of the stock is owned by hedge funds and other institutional investors.

CM has been the topic of several analyst reports. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 4th. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. TD Securities downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Canaccord Genuity downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $122.60.

Shares of NYSE:CM traded up $0.36 during midday trading on Monday, hitting $78.92. The company’s stock had a trading volume of 127,800 shares, compared to its average volume of 410,537. The business’s 50 day moving average is $78.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $34.93 billion, a P/E ratio of 8.45, a P/E/G ratio of 6.94 and a beta of 1.16. Canadian Imperial Bank of Commerce has a 12-month low of $72.96 and a 12-month high of $96.98.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Wednesday, May 22nd. The bank reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.75. Canadian Imperial Bank of Commerce had a net margin of 18.83% and a return on equity of 16.30%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the firm earned $2.95 earnings per share. Sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 8.99 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Thursday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 44.33%.

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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