12,582 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Bought by Hudson Value Partners LLC

Hudson Value Partners LLC acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,582 shares of the bank's stock, valued at approximately $708,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CM. Rhumbline Advisers boosted its stake in Canadian Imperial Bank of Commerce by 12.6% during the fourth quarter. Rhumbline Advisers now owns 3,622 shares of the bank's stock worth $229,000 after buying an additional 404 shares during the last quarter. Allworth Financial LP boosted its stake in Canadian Imperial Bank of Commerce by 255.6% during the fourth quarter. Allworth Financial LP now owns 1,120 shares of the bank's stock worth $71,000 after buying an additional 805 shares during the last quarter. IFP Advisors Inc boosted its stake in Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after buying an additional 404 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Canadian Imperial Bank of Commerce by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 868,803 shares of the bank's stock worth $54,934,000 after buying an additional 58,830 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in Canadian Imperial Bank of Commerce by 16.1% during the fourth quarter. Checchi Capital Advisers LLC now owns 4,149 shares of the bank's stock worth $262,000 after buying an additional 576 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Up 0.5%

Shares of CM stock traded up $0.37 on Thursday, hitting $70.56. The stock had a trading volume of 3,222,936 shares, compared to its average volume of 1,137,222. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $66.34 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.52 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 1 year low of $47.11 and a 1 year high of $70.96. The company's 50 day moving average price is $66.00 and its 200-day moving average price is $62.52.

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

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed 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. This represents a $2.81 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, June 27th. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's payout ratio is currently 47.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank Of Canada lifted their target price on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. BMO Capital Markets lifted their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, Scotiabank assumed coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $109.00.

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.