Northwest & Ethical Investments L.P. Has $11.89 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Northwest & Ethical Investments L.P. decreased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 193,814 shares of the bank’s stock after selling 5,328 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Canadian Imperial Bank of Commerce were worth $11,890,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CM. Ridgewood Investments LLC bought a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at approximately $29,000. BNP Paribas Financial Markets bought a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at $44,000. Blue Trust Inc. raised its stake in Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after buying an additional 623 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Canadian Imperial Bank of Commerce during the second quarter worth about $51,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. BMO Capital Markets raised their target price 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. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. Cormark raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 30th. StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Finally, Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 2nd. Two 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 stock. Based on data from MarketBeat.com, the company 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 traded down $0.05 during mid-day trading on Thursday, reaching $64.68. The company had a trading volume of 839,403 shares, compared to its average volume of 1,372,133. Canadian Imperial Bank of Commerce has a one year low of $37.97 and a one year high of $65.89. The business’s 50-day simple moving average is $62.66 and its 200 day simple moving average is $55.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $61.10 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.71 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (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 firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the firm earned $1.14 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 5.27 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce 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.