Livingston Group Asset Management CO operating as Southport Capital Management Decreases Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Livingston Group Asset Management CO operating as Southport Capital Management reduced its holdings in Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) by 59.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,776 shares of the bank’s stock after selling 9,988 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Canadian Imperial Bank of Commerce were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. CWM LLC acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $46,000. Fieldpoint Private Securities LLC increased its position in Canadian Imperial Bank of Commerce by 143.7% during the first quarter. Fieldpoint Private Securities LLC now owns 519 shares of the bank’s stock worth $63,000 after purchasing an additional 306 shares during the last quarter. Elmwood Wealth Management Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $81,000. Atlas Capital Advisors LLC increased its position in Canadian Imperial Bank of Commerce by 849.5% during the fourth quarter. Atlas Capital Advisors LLC now owns 1,035 shares of the bank’s stock worth $121,000 after purchasing an additional 926 shares during the last quarter. Finally, Independence Bank of Kentucky increased its position in Canadian Imperial Bank of Commerce by 812.4% during the first quarter. Independence Bank of Kentucky now owns 1,323 shares of the bank’s stock worth $161,000 after purchasing an additional 1,178 shares during the last quarter. 43.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CM stock traded down $1.47 during trading on Tuesday, reaching $47.62. The company’s stock had a trading volume of 27,297 shares, compared to its average volume of 1,071,962. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $42.98 billion, a price-to-earnings ratio of 8.73, a P/E/G ratio of 2.15 and a beta of 1.04. The stock’s 50-day moving average price is $53.95 and its 200 day moving average price is $58.96. Canadian Imperial Bank of Commerce has a 1-year low of $47.45 and a 1-year high of $66.24.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last announced its quarterly earnings data on Thursday, May 26th. The bank reported $1.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.15). The business had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.32 billion. Canadian Imperial Bank of Commerce had a net margin of 26.74% and a return on equity of 16.24%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.85 EPS. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.84 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Investors of record on Tuesday, June 28th will be paid a $0.645 dividend. The ex-dividend date is Monday, June 27th. This represents a $2.58 dividend on an annualized basis and a yield of 5.42%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.63. Canadian Imperial Bank of Commerce’s payout ratio is currently 46.62%.

CM has been the subject of several recent analyst reports. Bank of America cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 17th. BMO Capital Markets dropped their price target on shares of Canadian Imperial Bank of Commerce from C$85.00 to C$83.00 in a research report on Friday, May 27th. Stifel Nicolaus dropped their price target on shares of Canadian Imperial Bank of Commerce from C$87.00 to C$86.00 and set a “hold” rating for the company in a research report on Friday, April 8th. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, June 7th. Finally, TD Securities dropped their price target on shares of Canadian Imperial Bank of Commerce from C$82.00 to C$78.00 and set a “buy” rating for the company in a research report on Friday, May 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.71.

Canadian Imperial Bank of Commerce Profile (Get Rating)

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 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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