Bank of New York Mellon Corp Has $49.46 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Bank of New York Mellon Corp increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 878,426 shares of the bank's stock after buying an additional 9,623 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.09% of Canadian Imperial Bank of Commerce worth $49,455,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. World Investment Advisors acquired a new stake in Canadian Imperial Bank of Commerce during the 1st quarter valued at $247,000. Checchi Capital Advisers LLC lifted its holdings in Canadian Imperial Bank of Commerce by 12.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,683 shares of the bank's stock valued at $264,000 after purchasing an additional 534 shares during the last quarter. Private Trust Co. NA lifted its holdings in Canadian Imperial Bank of Commerce by 40.0% during the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank's stock valued at $44,000 after purchasing an additional 223 shares during the last quarter. Rossby Financial LCC acquired a new stake in Canadian Imperial Bank of Commerce during the 1st quarter valued at $150,000. Finally, Smith Group Asset Management LLC increased its position in Canadian Imperial Bank of Commerce by 18.6% during the 1st quarter. Smith Group Asset Management LLC now owns 91,470 shares of the bank's stock worth $5,150,000 after buying an additional 14,370 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM traded up $0.43 during mid-day trading on Thursday, reaching $73.02. The company had a trading volume of 800,236 shares, compared to its average volume of 1,124,844. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a one year low of $47.55 and a one year high of $73.52. The firm has a market cap of $68.15 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.57 and a beta of 1.05. The business's 50-day simple moving average is $69.04 and its 200 day simple moving average is $63.26.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter last year, the business earned $1.75 earnings per share. Canadian Imperial Bank of Commerce's revenue was up 13.9% on a year-over-year basis. On average, research analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be given a $0.7024 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Friday, June 27th. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's payout ratio is currently 49.56%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BMO Capital Markets increased 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 report on Friday, May 30th. Royal Bank Of Canada increased their price objective on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Scotiabank assumed coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $109.00.

About Canadian Imperial Bank of Commerce

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.