Hudson Value Partners LLC Purchases New Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Hudson Value Partners LLC acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,582 shares of the bank's stock, valued at approximately $708,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Operose Advisors LLC purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $30,000. Sandy Spring Bank purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $32,000. IFP Advisors Inc raised its stake in Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after buying an additional 404 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $44,000. 49.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CM has been the subject of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. BMO Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. Finally, National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock traded up $0.77 during mid-day trading on Monday, hitting $69.66. The stock had a trading volume of 1,348,768 shares, compared to its average volume of 1,110,389. The firm has a market capitalization of $65.49 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.50 and a beta of 1.05. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The firm's 50 day moving average is $65.30 and its 200 day moving average is $62.39. Canadian Imperial Bank of Commerce has a one year low of $47.11 and a one year high of $69.88.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.10. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.78 billion. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. Canadian Imperial Bank of Commerce's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 EPS. On average, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be issued a $0.7024 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.81 annualized dividend and a yield of 4.03%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 47.10%.

Canadian Imperial Bank of Commerce Company 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.