<div id="readability-page-1"><p>Bank of Nova Scotia trimmed its holdings in  Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) <span>TSE: CM<span></span></span> by 7.6% in the second quarter, according to its most recent disclosure with the Securities &amp; Exchange Commission. The fund owned 16,608,222 shares of the bank's stock after selling 1,359,214 shares during the quarter. Canadian Imperial Bank of Commerce comprises  2.4% of Bank of Nova Scotia's portfolio, making the stock its 8th biggest holding. Bank of Nova Scotia owned about 1.78% of Canadian Imperial Bank of Commerce worth $1,178,542,000 as of its most recent SEC filing.</p><ul><li>CAVA Stock Looking for Direction After Earnings Miss</li></ul><p>Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CM. Truvestments Capital LLC acquired a new position in  Canadian Imperial Bank of Commerce in the first quarter valued at approximately $32,000.  Ameritas Advisory Services LLC bought a new stake in shares of  Canadian Imperial Bank of Commerce during the 2nd quarter valued at $34,000.  Atlantic Union Bankshares Corp acquired a new position in shares of  Canadian Imperial Bank of Commerce in the 2nd quarter valued at $35,000.  Elevation Point Wealth Partners LLC bought a new position in shares of  Canadian Imperial Bank of Commerce in the 2nd quarter worth $43,000.  Finally, MAI Capital Management grew its stake in shares of  Canadian Imperial Bank of Commerce by 57.5% during the second quarter. MAI Capital Management now owns 737 shares of the bank's stock worth $52,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own  49.88% of the company's stock. </p><h2>Canadian Imperial Bank of Commerce Stock Performance</h2><p>CM opened at $91.22 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.04. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week high of $91.47. The firm has a market cap of $84.72 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.27 and a beta of 1.02. The business's fifty day moving average is $83.43 and its 200-day moving average is $76.76. </p><ul><li>Why Chipotle Stock May Bounce After a Brutal Sell-Off</li></ul><p>Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) <span>TSE: CM<span></span></span> last released its earnings results on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.08. The firm had revenue of $5.41 billion for the quarter, compared to analysts' expectations of $5.23 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.The business's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.91 earnings per share.  Sell-side analysts expect that  Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year. </p><h2>Canadian Imperial Bank of Commerce Increases Dividend</h2><p>The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Monday, December 29th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.97. The ex-dividend date is Monday, December 29th. Canadian Imperial Bank of Commerce's dividend payout ratio  is 46.31%. </p><h2>Analysts Set New Price Targets</h2><ul><li>Cheap Chipotle? Why CMG Stock Could Be Ready for a Comeback</li></ul><p>CM has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a &#34;sell&#34; rating to a &#34;hold&#34; rating in a research report on Monday, November 3rd. Raymond James Financial started coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They issued a &#34;market perform&#34; rating for the company. Weiss Ratings  reaffirmed a &#34;buy (b)&#34; rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their price objective on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an &#34;outperform&#34; rating in a report on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating and three have assigned  a Hold rating to the company's stock. According to MarketBeat.com, the stock  has an average rating of &#34;Moderate Buy&#34; and a consensus price target of $107.50.</p><p><b>Read Our Latest Analysis on CM</b></p><h2>Canadian Imperial Bank of Commerce Company Profile</h2> (Free Report)<p>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.</p><h2>Featured Stories</h2><ul><li>Five stocks we like better than Canadian Imperial Bank of Commerce</li><li>2 Fintech Stocks to Buy Now and 1 to Avoid</li><li>Rubrik’s Massive Rebound: Why the Next Leg Higher Could Be Fast</li><li>What is Forex and How Does it Work? </li><li>Five Below and Dollar Tree Earnings Signal a Shopper Shift</li><li>3 Stocks to Protect Your Portfolio from the Coronavirus Contagion </li><li>Ulta’s Stock May Be Set for a Glow-Up—20% Upside Ahead?</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUNN?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUNN"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Canadian Imperial Bank of Commerce Right Now?</h2><p>Before you consider Canadian Imperial Bank of Commerce, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Canadian Imperial Bank of Commerce wasn't on the list.</p><p>While Canadian Imperial Bank of Commerce currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

<p>Bank of Nova Scotia reduced its holdings in Canadian Imperial Bank of Commerce by 7.6% in Q2, selling 1,359,214 shares. CM stock opened at $91.22, with a 52-week range of $53.62-$91.47. Analysts have mixed ratings, with a consensus price target of $107.50. CM's recent earnings beat expectations, and the bank increased its dividend to $1.07 per share, yielding 4.7%.</p>

Canadian Imperial Bank of Commerce $CM Shares Sold by Bank of Nova Scotia